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MoD announces new scheme to move Armed Forces up the property ladder

From a news release by the Ministry of Defence on 26 Jan 10:

A pilot scheme to encourage home ownership amongst members of the Armed Forces has been launched by the MOD and the Department for Communities and Local Government today, Tuesday 26 January 2010.

Armed Forces personnel will be allowed to purchase properties anywhere in England through a single service provider

Under the pilot scheme, the Government will provide members of the Armed Forces with up to 50 per cent of a property's value.

Unlike similar schemes, personnel will be allowed to purchase properties anywhere in England through a single service provider, in order to meet the needs of the Armed Forces' mobile workforce.

In addition, applicants can sublet their properties and will not normally pay any fees on the equity while they remain serving members of the Armed Forces.

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