Army helping with deposit for soldiers

[wnjxc21]

I'm buying a house with a friend who is in the army...I've heard the army will lend upto a certain amount to soldiers for deposit to buy houses.

is there any truth in this?

Any soldier/mortgage knowledge would be helpful.

I would ask my friend to find out but he's not contactable for the next few weeks

thanks in advance

[buildersmate]

Yes it is - it takes the form of an advance against the sum he/she would get tax-free when they come out of the Army. Don't know the full details (I'm not a soldier) - get onto one of the Forces welfare or self-help sites - it will have details.

[Kathyan]

Yes he can. It's called LSAP and he can claim up to �8,500. He must be over a certain age though, I think its 35. My OH is in the Army and he did this 7 years ago. Your friend will have to pay the money back monthly but it is interest free. If he lets the property he will have to pay interest on the loan. If there is any money outstanding when he leaves the Army he will have to pay the remaining balance out of his lump sum. Hope this helps!