Armed Forces Mortgages Gower

Mortgages for the Armed forces Gower Lexion are specialists in residential mortgages for members of the armed forces and military personnel.

If you’re a member of the armed forces based in Gower seeking a residential mortgage, it’s important to seek out specialist advice as certain providers may not understand the needs and challenges facing servicemen and women when it comes to the property ladder. You should also be aware of the military mortgage help that is available for armed forces professionals, from Lexion Financial Services.

There are a number of schemes and support sources on offer, such as

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Increased lender flexibility
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Forces Help to Buy
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Long Service Advance of Pay

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Telephone: 01656 865 495

Are there specific mortgages for armed forces personnel?

All too often, servicemen and women can face a lot of challenges when it comes to getting themselves onto the already tough-to-climb property ladder. From low income to poor credit ratings, being deployed to various different countries can have negative effects on your financial standing.

The good news is, however, that there are specialist lenders that offer mortgages for members of the Armed Forces in Gower, these include:

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British army mortgages
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Air force mortgages
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Navy and army mortgages
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Marine corps mortgages
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Mortgages for civilian support staff
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Mortgages for ex-military personnel who are currently in the UK
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Mortgages for armed forces personnel that are stationed abroad
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The key is knowing where to look, but luckily, that’s where we come in

What mortgage assistance is available for members of the armed forces in Gower?

As a member of the armed forces seeking a residential mortgage in Gower, you need to ensure you’re seeking out the relevant specialist advice from people outside of the standard high street providers.

If you haven’t already started looking for a mortgage, it won’t take long to realise that most high street providers don’t necessarily understand the difficulties you face as a member of the Armed Forces. Because of this, you need to ensure seek out advice from people like us.

When approaching mortgage providers, you also need to be aware of the financial help that is available for the armed forces, as this will help with your application. For those that are not already aware, there are schemes that are currently offered including increased lender flexibility and the Forces Help to Buy scheme.

Specialist providers that offer mortgage deals for members of the Armed Forces may be able to do any of the following to assist:

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Allow military borrowers consent to let on a standard residential mortgage
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Allow those that are currently stationed abroad to buy a home in the UK
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Allow a purchased property to go unoccupied for periods of time
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Whilst doing the above, the will also do their best to find great rates available to you.

Frequently Asked Questions

What is the Forces Help to Buy scheme?

As mentioned above, there is a Forces Help to Buy scheme available to members of the Armed Forces until 2022.

The Forces Help to Buy scheme is specifically designed to help armed forces personnel to get onto the property ladder. The scheme offers an interest-free loan to help cover a house deposit as well as any other fees that occur whilst buying a home.

How much financial support can you receive with Forces Help To Buy?

Military professionals can borrow as much as 50% of their annual salary interest-free, as long as it is no more than £25,000. This money can then be used as a house deposit or solicitor and estate agent fees.

Do the Forces Help to Buy schemes cover all homes?

The Forces Help to Buy scheme applies to those looking for their first home, those moving due to a new assignment or those who have had a change in family circumstances.

Can everyone apply for the Forces Help to Buy scheme?

You can apply for the Forces Help to Buy scheme if you meet the following criteria:

  • You have completed the required length of service
  • You have more than six months left to serve at the time of making your application
  • You meet the right medical criteria

Due to the criteria stating that you must have six months left to serve at the time of making your application, the Forces Help to Buy is therefore not available to ex-servicemen.

How can I find out more information when it comes to military mortgages?

Applying for a mortgage can be an overwhelming experience so it’s important you’re getting the best advice as you possibly can.

For more information about military mortgages and what is available to you, you might want to consider contacting a member of our team directly. Not only will we be able to answer any further questions you may have but we will also be able to advise you of the best possible scheme for you.

How to get the best possible rates on Armed Forces mortgages, in Gower

Although there are schemes such as Forces Help to Buy in place when it comes to army, navy or RAF mortgages, the rates offered are no different to civilian rates. The same factors that are taken into consideration with a civilian application will affect your own military application. This includes your age, your income, your outgoings, your credit rating, your deposit and the property type.

In some cases, you may be able to get a favourable deal but in order to do this effectively, you need to seek advice from professionals when it comes to military mortgages.

Contact us for Expert Mortgage Advice

    Pencoed Office

    Lexion Mortgage Advisors

    First Floor Offices
    6 Penybont Road
    Pencoed
    Mid Glamorgan
    CF35 5RA

    St Athan Office

    Lexion Financial Services Ltd

    MOD St Athan, Building 198

    Dragon Way

    Bro Tathan

    CF62 4AF

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