Caroline Nokes
Main Page: Caroline Nokes (Conservative - Romsey and Southampton North)Department Debates - View all Caroline Nokes's debates with the Ministry of Defence
(10 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Caroline Nokes (Romsey and Southampton North) (Con)
8. What funding his Department makes available to help armed forces families to get on the housing ladder.
Glyn Davies (Montgomeryshire) (Con)
9. What steps he is taking to help improve home ownership among members of the armed forces.
The Parliamentary Under-Secretary of State for Defence (Anna Soubry)
The Secretary of State for Defence recently announced that £200 million has been allocated for the creation of the forces Help to Buy scheme. Launching on 1 April 2014, it will significantly improve the support available to members of the armed forces who wish to buy their own home. Forces Help to Buy will offer the men and women of our armed forces a deposit loan of 50% of their annual salary, up to a maximum of £25,000. The loans will be interest-free and repaid over an affordable 10-year period. As well as that additional funding, there will be tailored advice on financial and housing matters. Of course, service personnel are also afforded high priority and additional flexibility under the Chancellor’s main Help to Buy equity share scheme.
Caroline Nokes
I thank my hon. Friend for that response. What reassurance can she give my armed forces constituents, particularly those in the Army Air Corps at Middle Wallop, that they will be able to combine this new scheme with the schemes already put forward by the Department for Communities and Local Government, in an example of joined-up government?
Anna Soubry
There should not be any difficult in doing that at all. I should add that I am always more than willing to come to see some of the excellent accommodation that I know exists already at Middle Wallop, and I look forward to doing so.