Springtime is traditionally a popular time to consider buying a house so you may well be considering your options. It’s also renowned as a stressful journey so it’s good to know that schemes exist that can help Service personnel get that all important first footing on the housing ladder.
Shared ownership is designed to make that first step of getting onto the property ladder possible by enabling an initial purchase for part of the home. While repaying a manageable monthly mortgage amount for part of your property – usually between 25%-75% – you continue to pay rent on the rest. The aim is to purchase the remaining shares over time, eventually owning 100% of your home.
Forces Help To Buy
The FHTB scheme allows Service personnel to borrow an interest-free advance of up to 50% of their salary (to a limit of £25,000), which they can use towards a deposit on a property. This is then paid back over 10 years through their monthly salary.
Joint Service Housing Advice Office (JSHAO) and the Ministry of Defence (MOD) Referral Scheme
JSHAO is a service provided by the MOD to offer support, advice, and guidance on housing matters. It is accessible to all current Service personnel and veterans. JSHAO work alongside the MOD Referral Scheme to match Service-leavers with housing association accommodation that meets their individual needs. This scheme is a great way of securing housing within a local authority, especially for those who would otherwise be considered low priority – although housing is subject to availability. Applications are welcome from those discharged within the last six months and residing in a hostel or Service accommodation. Priority is given to people discharged after completion of Service, those discharged early due to redundancy or illness and those who have become separated from their partner.
The JSHAO runs a series of housing briefings that explain the options available to Service-leavers. To book a brief at a location administered by the Career Transition Partnership (CTP) call the central CTP telephone line on: 0203 162 4410. If you are in resettlement you will need to complete a Non GRT Absence Request on JPA after making your telephone booking.
Housing briefs are open to all Service personnel and dependants, at any stage of their Service career.
Search: Joint Service Housing Advice Office, housing briefs, via www.gov.uk
Other helpful organisations include:
0208 685 5777
JSHAO Advice Line
01252 787 574 or 01252787 635
MOD Referral Service
Royal British Legion
0808 802 8080
Riverside Care and Support Service
0345 111 0000
0207 463 9398
SPACES (Single Persons Accommodation Centre for the Ex-Services)
01748 833 797
0207 385 2110