As Forces Help to Buy Specialists, we often get asked the same questions again and again by our clients. Here are the most common questions, and our answers: Q: Is Forces help to buy the same as government help to buy? A: No it isn’t. Forces Help to Buy is very different from the standard […]
by Simply Balanced Solutions Forces Help to Buy are interest free loans designed to help serving military personnel buy a property. They are considered beneficial loans by HMRC and are therefore subject to tax as a Benefit in Kind. You will be taxed on the cash equivalent of the loan if it exceeds £10,000 during […]
Do you often dream about leaving MOD housing and buying a home? Do you want to get a foot on the ladder ready for civvy street? Do you have somewhere you already own but it’s just not suitable for your needs? Buying a home might seem like a legal and financial minefield to you, but with […]
Buying a property is never a quick process but with the right preparation, it is possible to get there and a worth-while investment of your time. Here are our top tips for getting mortgage ready Check out and improve your credit score. There are a few online tools available now. Try www.noddle.co.uk or www.clearscore.com These […]
What are Life Insurance and Critical Illness cover? Life insurance financially protects your spouse and dependents in the event of your death. You can choose if the policy pays them either a lump sum amount, or regular payments if you die, so that they are looked after financially. There are two types of life cover; […]
It’s one of those questions that we tend to avoid and it is estimated that up to 70% of us will die “intestate” or not having made a Will. There seems to be no exception to this when it comes to the partners and spouses of military personnel, which is strange when we are so […]
10 top tips for those who have a Forces Help to Buy loan and want to remortgage or buy another home If you wish to re-mortgage your property and increase the amount of mortgage you have on the property (in order to free up some cash) Defence Business Services, Military Personnel, FHTB Section (DBS Mil […]
John got in touch a few months back and felt disillusioned from the advice he had already been given by other banks and advisers. He knew he could afford the mortgage he was proposing, but couldn’t get the amount he required. Nadine gave him some suggestions to improve his affordability and talked him through the […]
Imagine the worst was to happen next year or next month, have you made arrangements to nominate Guardians of your children? What does the Guardianship do for your children? Guardianship for your children ensures that they will be taken care of by the person that you nominate as their Guardian. If you don’t write a […]
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 […]
Bought a house using Forces Help to Buy and now you or your partner has decided to leave the Armed Forces? If you decided to leave one Regular Armed Service and join another (transfer from the Army to the Navy for example) you may keep the FHTB provided there has been no break in Service. If you […]
What is the process and costs? Are there any legal costs involved in re-mortgaging? When re-mortgaging you will need to consider the following costs: legal expenses; land registry fees (including the registration fee and document download costs); any mortgage arrangement fees; bank transfer fees; any early repayment fees on your current mortgage; a valuation or […]
