What are the monthly costs of the scheme?

Every month, owners will need to make a number of payments including:

Mortgage repayments to lenders;
There is normally no interest or fee to pay on the Second Charge whilst you remain in service unless you sublet the property or your place of work is more than a reasonable travelling distance from the home you purchase. If however you leave the Armed Forces or die in service, there are stepped fees on the equity loan;
Service charges, if you buy a house or flat with shared areas that require maintenance;
Council tax;
Life insurance and payments into investment products if appropriate;
Buildings and contents insurance; and
Utility bills and other costs of occupying the property.

Submit an application online now!