ARMED Forces Day may have come and gone for another year, but Barratt Developments North East, which encompasses the Barratt Homes and David Wilson Homes brands, is committed to helping Armed Forces personnel all year round.

The developer has an Armed Forces Deposit Contribution Scheme which offers army, navy and RAF employees a £500 contribution for every £25,000 on the cost of the new property they are buying, up to a maximum contribution of £5,000.

As well as the deposit contribution, Armed Forces members can also take advantage of the Forces Help to Buy Scheme which aims to make it easier for servicemen and women who are first-time buyers – or those who need to move due to a change in circumstances – to purchase a new home with a five per cent deposit and 75 per cent mortgage.

The scheme allows regular forces personnel to borrow their five per cent deposit as a ten-year interest-free loan of up to 50 per cent of their salary from the Ministry of Defence (MOD). This gives a necessary boost to then secure a 75 per cent mortgage and a 20 per cent Help to Buy equity loan funded by the government.

This scheme is planned to run until March 31, 2018, so potential buyers are being urged to move quickly if they want to take advantage of it.

“We’re very proud of the fantastic work our Armed Forces do and are pleased to be able to help servicemen and women in any way we can to find their perfect home,” said Fenton Hewitt, sales director at Barratt Developments North East.

“We understand that it’s important to have the perfect place to come home to and have homes available at developments across the North-East – including Grey Towers Village development in Nunthorpe and Mount Oswald and The Drive at Mount Oswald developments in Durham. Our schemes help to take some of the stress out of moving home and we would encourage any army, navy or RAF employees to find out more about what we can offer them.”

Further information about developments and incentives for members of the Armed Forces is available by visiting dwh.co.uk/Offers/Armed-Forces-Help-to-Buy/ or dwh.co.uk/Offers/Armed-Forces-Discount/.