Armed Forces

To qualify for the Armed forces Home Ownership Scheme (AFHOS), you needed to have had between 4 and 6 continuous years service in the military. It was only available in England, and you had to be unable to afford a suitable home without aid.

This was only a pilot scheme which had limited funding, and the official website at now states that “Please note funding for the Armed Forces Home Ownership Scheme (pilot) has now been fully utilised which means the scheme has now closed and is no longer accepting any new applications.”

The scheme aimed to aid potential home buyers who had served in the armed forces with an equity loan worth 15-50% of the property value. The remaining 50% to 85 % came from savings, a deposit and a mortgage.

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Whether you're a first-time buyer or already a property owner you could buy a new home with a small deposit of 5%, heres how.

How Help to Buy Equity Loans Work

  • First time buyers and those already on the property ladder can apply.
  • To qualify a 5% deposit is required.
  • A 75% mortgage must be secured from your bank or building society.
  • The remaining 20% of the property’s value is funded by an equity loan provided by the Government.
  • House prices can’t be more than £600,000 in England and £300,000 in Wales.