Advice built around military life
Can you buy a property while living in military accommodation? Could you buy a home now and rent it out until you're ready to live there? Could Forces Help to Buy help you purchase a home? And what are your house purchase options when leaving the Armed Forces, or facing relationship breakdown, discharge or redundancy?
At PFL Mortgages, we're Armed Forces specialist mortgage advisers and members of the Services Insurance and Investment Advisory Panel (SIIAP). We understand the opportunities and challenges of buying a home during military life, and we're here to help serving personnel, veterans and their families explore what's possible.
You don't need to be ready to apply for a mortgage to speak to us. We're happy to help you understand your options.
Military life can affect when, where and how you buy a home. Postings in the UK and overseas, the option of buying while living in Service accommodation, military pay and allowances, and plans for life after Service can all influence your decisions.
Our advisers understand these challenges and know that mortgage lenders don't all approach military circumstances in the same way. We can help you find a lender who understands your situation and explore what's possible when buying a home while serving.
For example, some lenders may allow you to buy a property using a residential mortgage and rent it out until you're ready to move in. This can avoid the need for a buy-to-let mortgage, which typically requires a much larger deposit and often comes with higher interest rates and fees.
If you'd like a home of your own to live in now, don't assume you need substantial savings. Forces Help to Buy could provide up to £25,000, and for some people that may be enough to cover both the deposit and legal costs. You might be closer to buying than you realise.
If you're planning for life after Service, it's worth exploring your home ownership options early. As your leaving date approaches, mortgage lenders may need to consider what income you'll have afterwards, rather than relying on your military salary. Leaving it too late could limit your options, even while you're still serving.
Can you buy a property while living in military accommodation? Could you buy a home now and rent it out until you're ready to live there? Could Forces Help to Buy help you purchase a home? And what are your house purchase options when leaving the Armed Forces, or facing relationship breakdown, discharge or redundancy?
At PFL Mortgages, we're Armed Forces specialist mortgage advisers and members of the Services Insurance and Investment Advisory Panel (SIIAP). We understand the opportunities and challenges of buying a home during military life, and we're here to help serving personnel, veterans and their families explore what's possible.
You don't need to be ready to apply for a mortgage to speak to us. We're happy to help you understand your options.
Military life can affect when, where and how you buy a home. Postings in the UK and overseas, the option of buying while living in Service accommodation, military pay and allowances, and plans for life after Service can all influence your decisions.
Our advisers understand these challenges and know that mortgage lenders don't all approach military circumstances in the same way. We can help you find a lender who understands your situation and explore what's possible when buying a home while serving.
For example, some lenders may allow you to buy a property using a residential mortgage and rent it out until you're ready to move in. This can avoid the need for a buy-to-let mortgage, which typically requires a much larger deposit and often comes with higher interest rates and fees.
If you'd like a home of your own to live in now, don't assume you need substantial savings. Forces Help to Buy could provide up to £25,000, and for some people that may be enough to cover both the deposit and legal costs. You might be closer to buying than you realise.
If you're planning for life after Service, it's worth exploring your home ownership options early. As your leaving date approaches, mortgage lenders may need to consider what income you'll have afterwards, rather than relying on your military salary. Leaving it too late could limit your options, even while you're still serving.
