Now that the new paint has dried and you have unpacked your last box, maybe you are thinking about raising more funds on the property or already considering your next move. As long as you have a Forces Help to Buy loan there are some things to consider in addition to the normal requirements.

For help around this, or remortgaging, please call Forces Family Finance on 0330 3322 614 or email customerservices@forcesfamilyfinance.co.uk.

1. Re-mortgaging will not affect your original agreement. The terms of repayment are fixed and will not change regardless of what other charges you have on the property.
2. If you chose to repay the FHTB loan in full or part because you are re-mortgaging, you can send a cheque or banker’s draft to pay it off at any time. Please speak with your Unit HR Administrator (RAO or equivalent) or your legal advisor for further information on this.
3. There is no charge for repaying the FHTB loan early.
4. The FHTB loan will be interest-free except where the property is being let, you have failed to repay the loan prior to the property being sold or you breach any of the FHTB terms which you have agreed to as part of the original loan. If you fail to comply with these rules the loan will immediately start accruing interest.
5. If you fail to tell FHTB about any re-mortgage or transfer the FHTB loan to a second purchase and retain your original property FHTB will backdate interest from the date of the breach of the terms of the loan and you will become immediately liable to repay all of the loan.
6. Make sure you consider all of the costs involved your mortgage broker and/or solicitor should be able to help. Examples of this are legal expenses, land registry, mortgage arrangement fees, bank transfers, any early repayment charges, valuation, broker fee. This is not an exhaustive list!