Metro Bank has added a new mortgage product to its range with the Armed Forces Help to Buy scheme – which was recently extended by the government to run until the end of 2022.
The Armed Forces Help to Buy is an interest-free loan provided by the Ministry of Defence, enabling eligible Armed Forces personnel to borrow up to half their gross annual salary (to a maximum of £25,000), interest free for 10 years.
Metro Bank will support use of the loan as a deposit to buy a home, with its new mortgage product available direct or through a broker.
The bank signed the Armed Forces Covenant in July, a pledge to treat with fairness and respect those who serve or have served and their families.
“It’s really exciting to be introducing a new mortgage product to our range, especially one that helps those that serve our country,” said Andy Piggott, director of lending products at Metro Bank.
Charles Morley, director of mortgage distribution at Metro Bank, added: “We understand that many military personnel look for expert help when planning to buy a property, so it’s vital for Metro Bank to be delivering this product through the broker market.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
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