Skipton Building Society has introduced key changes to its mortgage lending criteria for homebuyers using the Forces Help to Buy scheme.
Effective from today (Monday, 25th September), the revised criteria aim to make it easier for Armed Forces personnel to secure a mortgage.
Previously, a 5% deposit was required from those taking advantage of the Forces Help to Buy scheme, Skipton has now eliminated this requirement.
Skipton will now also consider additional Armed Forces-related benefit income as part of its affordability assessment.
This includes income from the Armed Forces Compensation Scheme, Armed Forces Independent Payment, and Spousal Guaranteed Income Payment.
