Forces Help to Buy joint applications are allowed: where you are both serving, you can each use the scheme on the same home. It is one of the most useful, and least understood, parts of Forces Help to Buy for couples. Here is how it works, and the catch that trips people up, from a whole-of-market broker who arranges the mortgage alongside it.
Can a couple both use Forces Help to Buy?
Yes. Under the scheme rules in JSP 464, two or more serving applicants can each obtain their own Forces Help to Buy advance towards the joint purchase of the same property. So if you are both regular personnel, you do not have to choose whose advance to use, you can each apply for your own.
The £25,000 limit is per person, not per property
The cap of up to 50% of salary, to a maximum of £25,000, applies to each applicant, not to the home. Between you, that means up to £50,000 towards your deposit and buying costs, all interest-free. For a forces couple, that can turn a marginal purchase into a comfortable one, and often into a better mortgage rate through the larger deposit.
The catch: not every lender accepts two advances
This is where it gets missed. JSP 464 lets you both draw an advance, but it is no guarantee a lender will accept two Forces Help to Buy amounts as your deposit. Each advance is repaid from your salary, so a lender treats both as monthly commitments and some will not lend against two at once. As a whole-of-market broker, we know which lenders accept two advances and which do not, so you are not left finding out the hard way after you have both applied.
How affordability works with two advances
A lender assesses both incomes and both advance repayments together. The larger combined deposit lowers your loan-to-value, which usually opens up better rates, but the two repayments reduce how much you can borrow on the mortgage itself. We work out the best balance for your situation, including whether to use the full advance each or hold some back for fees. Try the Forces Help to Buy calculator for a starting point.
What if only one of you is serving?
Then only the serving partner can use Forces Help to Buy, for a single advance of up to £25,000. Your partner’s income still counts towards the mortgage in the normal way, so you are not at a disadvantage, you simply have one advance rather than two.
Talk to a forces-friendly adviser
Using two advances well is exactly where advice pays off. As former bank managers advising forces families across Lincolnshire, we match you to a lender that accepts both and line the mortgage up alongside. See our Armed Forces Help to Buy mortgage advice or book a free chat. Scheme rules are set by the MOD under JSP 464 and can change, so we confirm what applies to you. Your home may be repossessed if you do not keep up repayments on your mortgage.
