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Military Mortgages

This guide examines military mortgages in detail and offers advice on the best lenders and financial schemes that may improve your chances of success with your application.
military mortgages UK
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If you’re in the military and looking for a mortgage, you will be glad to know that there are mortgage lenders out there willing to consider your application.

However, you might need to turn to a specialist lender as you might be ruled out of a mortgage by some mainstream mortgage lenders. This could be the case if you move around the country a lot as part of your job or if you have a poor credit rating because you don’t pay regular bills.

A scattered address history and low credit score will mean you don’t meet most mainstream lenders’ eligibility criteria but as specialist military mortgage lenders will have a better understanding of your situation, it is still possible to get a mortgage if you’re looking to buy a home.

In this guide, we will take a closer look at military mortgages and will advise you on the financial schemes that could help your application.

Keep reading to learn more and then get in touch with us if you would like a wider discussion about military mortgages and the mortgage application process.

Are there mortgages specifically for military personnel?

A ‘military mortgage’ isn’t a specific mortgage type but the term is used when identifying lenders who are more likely to offer a standard residential mortgage to military personnel.

You have the same pick of mortgage options as people who aren’t in the military but you may need to approach a specialist military mortgage lender whose lending criteria have been adapted to help military personnel get a mortgage.

There are specialist lenders for:

  • British army mortgages
  • Air force mortgages
  • Navy mortgages
  • Mortgages for service personnel stationed overseas
  • Mortgages for civilian support staff

These are just a few examples as there are specialist lenders who will consider other members of the armed forces who are in active service.

These lenders can’t always be found on the high street or online. But it’s still possible to gain access to their mortgage deals when using the services of a mortgage broker who knows which lenders offer mortgages to those engaged in military life.

YesCanDo Money is in touch with the lenders who will consider you for a military mortgage so speak to our team if you would like to know more.

We know the best lenders for military personnel

Is the Forces Help To Buy Scheme still available?

The Forces Help To Buy (FHTB) scheme was launched in April 2014 as a means of helping military personnel raise funds to buy their own property. Applicants could apply for the loan through their Joint Personnel Administration system (JPA) to borrow up to 50% of their salary interest-free. The maximum lending amount was £25,000 of their gross pay.

Military personnel could then use this interest-free loan to pay for such costs as their deposit, solicitors fees, and estate agent fees.

Unfortunately, the Forces Help To Buy Scheme ended on 31st December 2022.

Another scheme used by home buyers, the Help To Buy Equity loan scheme, has also ended.

However, other schemes are available for serving personnel. These include:

First Homes Scheme

The First Home Scheme lets military personnel, key workers, and first-time buyers purchase a home for 30% to 50% less than its market value. To be eligible for the scheme, applicants need to be 18 years or older, a first-time buyer, and have an income of £80,000 (£90,000 in London) or less.

To use the scheme, you need to look for a property that has been advertised as part of the scheme and apply through the property’s developer (if it is a new build) or the relevant estate agents.

Should you sell the property, you need to apply the same discount that was used when you purchased your home.

Shared Ownership Scheme

The Shared Ownership Scheme allows you to buy a share in a property with the option of buying more in the future. The initial share can be as low as 10% of the property’s full market value but you can pay more if you’re able to do so. You then pay rent to the landlord for the share you don’t own and two other costs – ground rent and service charges.

You can take out a mortgage to pay for the share or you can use your own savings.

How to get the best mortgage if you’re in the military

To improve your mortgage chances and to ensure you get access to the best mortgages available, the following steps are advised before you approach a mortgage lender.

1) Get your paperwork together

Mortgage lenders require evidence of your earnings so you should pull together your payslips, bank statements, and proof of additional income sources before you make your application. If you are using a scheme to help you with the mortgage deposit, you should provide evidence of that too.

The sooner you get your paperwork together the better as this will prevent any hold-ups in your mortgage application and you will do much to impress your mortgage lender.

2) Download your credit reports

Not many lenders accept applications from customers with bad credit so if your credit rating is low, certain lenders will reject your application.

But as we stated earlier, this isn’t the case for all mortgage providers. Some specialist lenders and a handful of mainstream lenders will accept your application, even if you do have poor credit, as they will understand that it’s your career that may have impacted your score and not money mismanagement on your part.

Before lenders get the chance to look at your credit file, download your credit reports in advance so you know what you’re dealing with. If your score is low, you will boost your chances of a more affordable mortgage if you’re able to improve it.

3) Speak with a specialist military mortgage broker

Not only will a specialist mortgage broker help you secure a mortgage but they will make sure you get access to a deal with the lowest mortgage rates from the most suitable mortgage provider too.

A specialist mortgage advisor will also complete your mortgage application on your behalf, which will be good news to you if you’re short on time because of your work with the armed forces.

YesCanDo Money is a specialist broker so whether you’re looking to get your foot on the property ladder or hoping to move to a new house closer to where you’re stationed, get in touch with our team and we will help you get your mortgage approved.

We know the best lenders for military personnel

Best military mortgage lenders

The ‘best’ military mortgage lenders are those who:

  • Are more likely to accept applications from forces personnel
  • Offer the best mortgage deals at the lowest interest rates to those in the army, air force, and navy

In certain situations, you might need to turn to a lender who specialises in armed forces mortgages. However, there are a few mainstream banks that may be willing to consider applications from military personnel if their eligibility criteria are met. These include Barclays, HSBC, and Nationwide.

Should you seek advice from our team, we will let you know which lenders are right for your particular situation. We will also make sure you gain access to a deal with affordable mortgage rates to bring down the cost of your mortgage payments.

Eligibility criteria

To gain mortgage approval, you will need to pass the eligibility criteria set by most lenders. These requirements are usually dependent on:

  • Income: When assessing your affordability, lenders will consider your annual salary and your income sources. Unfortunately, not all lenders accept every type of income source so you may be excluded from some deals. However, there are lenders that are more flexible so as well as your monthly earnings, these lenders will also take your other income sources into account, such as the operation allowance (combat pay) and the living overseas allowance (LOA) if you have spent time abroad.
  • Age: The youngest you can be for a mortgage is 18 but there are some lenders who will require you to be 21. A lot of lenders set an age cap of 70 (the age you need to be at the end of the mortgage term) but some will accept applications from those who will be older if their affordability is sufficient.
  • Credit rating: The best rates are often offered to those with the cleanest credit histories. This might seem like bad news if your credit rating is poor because of your job with the armed forces, but it is possible to find a good deal with a flexible lender who is more understanding of your circumstances.
  • Deposit: The lowest deposit you can put down for a standard residential mortgage is 5% but some lenders require more than this. If you can make a bigger deposit, you will be eligible for a wider range of lenders and mortgage products so there are benefits to raising money for a larger down payment if you can.

How much you could borrow on a mortgage for armed forces personnel

When assessing affordability for their mortgage products, many lenders will calculate the amount their customers can borrow with an income multiple of 4-4.5 x their annual income. However, some lenders will use other income multiples, with a few going up to a maximum of 6 x annual income for eligible customers.

If your income comfortably allows you to meet the lender’s repayment schedule, your chances of mortgage approval will be improved.

To get a rough idea of the amount you may be able to allowed to borrow, use the mortgage affordability calculator below.

Please note: The actual amount will be based on a number of other factors, as well as your income, so talk to a member of our team to attain a more accurate figure.

Mortgage Affordability Calculator

Monthly Repayment: Total Interest Paid:
Please note: This calculation is a guide to how much your monthly repayments would be. The exact amount may vary from this amount depending on your lender's terms.
Let us calculate it for you, it wont cost you anything

Speak to an expert military mortgage broker

It’s often difficult for members of the armed forces to get a mortgage, especially if they are always on the move. However, getting a mortgage can be made easier with an expert mortgage broker who:

  • Has experience working with members of the armed forces
  • Has an understanding of the complications members of the armed forces can face
  • Has the time to search for the most-appropriate mortgage providers
  • Has access to the best deals on the mortgage market

So, if you’re a first-time buyer looking to get on the property ladder or a home mover looking for a new house, we are here to give you the help you need.

We can also help you if you’re hoping to make extra income from a buy-to-let property or if you’re looking to remortgage onto a new deal.

If you would like to know more, get in touch with us today. After appraising your financial situation, we will advise you on the best lender for your circumstances and will give you advice on how to improve your mortgage chances. We will also make sure you gain access to a competitive deal with the lowest possible interest rates for somebody in your situation.

Contact us via WhatsApp or call us at 033 0088 4407. Alternatively, fill out our callback form and one of our mortgage advisers will be in touch to arrange an appointment with you.


Due to the high-risk nature of some military jobs, it can be hard to get life insurance or critical illness cover. It’s not impossible, however, as with the help of a military mortgage expert, such as ourselves, it is possible to find an insurance provider who will be understanding of your needs.

If you would like to let out your property while you’re on active duty, it is possible to switch from a standard mortgage to a buy-to-let mortgage. That being said, you might not need to as your lender might give you permission to let out your property. Not all lenders will do this but you should still talk to your current lender about the possibility before you consider switching.

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