The government is to offer armed forces personnel buying
their first homes interest free loans towards a deposit. Defence Secretary
Philip Hammond announced that service men and women will be able to borrow an
interest free amount of up to 50% of their salary to a limit of £25,000. The
loan is repayable over 10 years and is designed to address the low rate of home
ownership among the forces. The scheme will start on 1 April 2014 and covers a
three-year period. Read more on the Conservative Party website.
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