The Veterans' Homebuy scheme will allow former servicemen and women the opportunity to own their own home with the help of the council who will offer assistance with a shared equity loan. The loan will enable those who have served to purchase property through the Birmingham Municipal Housing Trust – the council's house building initiative.
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Cllr John Lines Cabinet Member for Housing will make the announcement where he will be joined by Birmingham’s Lord Mayor, Ministry of Defence officials, the local armed forces community and other representatives.
The official signing of the Armed Forces Community Covenant aims to build a symbiotic relationship where the military draws support from the community, and in return, the forces offer their skills to benefit local people. It will also involve charities and voluntary organisations in Birmingham.
Cllr John Lines, Cabinet Member for Housing said: "For the first time there is a home buying scheme for those who have put their lives on the line for their country.
"The scheme will help ex-service personnel to purchase an affordable house, giving people the chance to put down roots and build a new life outside of the forces."
(CD/GK)
