Lorely Urges Forces Personnel To Get Onto Property Ladder

4.01.32pm GMT Tue 16th Feb 2010

Local MP, Lorely Burt, is urging local servicemen and women to take advantage of the new Home Ownership Pilot Scheme for members of the Armed Forces, who have been serving for between 4 and 6 years.

The scheme, which unlike its predecessors, will allow members of the Armed Forces to purchase properties anywhere in England as part of a £20 million plan to be funded by the Ministry of Defence and piloted until Spring 2013.

Under the scheme, directed by the Homes and Communities Agency, the government will lend up to 50% of the property's value in order to aid personnel to find a house that suits their needs. Additionally, applicants will be able to sub-let their properties without paying fees on any equity, whilst they are still serving members of the Armed Forces.

Lorely said:

"I am whole-heartedly behind this scheme, which will help members of the Armed Services and their families get that important first push onto the property ladder.

"Before now, many service men and women have felt deprived of opportunities to get into the housing market as a result of the demands of life in the Armed Forces, but I'm sure with this scheme we will hear many successful housing stories."