What Deposit is Required For Military Mortgages

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Military Mortgages

What Deposit is Required For Military Mortgages

With 2021 almost over your attention might be turning to moving or perhaps buying your first property. 2022 is almost upon us and with that comes new plans and new dreams with a new home being on the agenda for many. Your career in the armed forces can take you around the world meaning you move time and time again.  This can be frustrating when you want to set up roots in one place and build a home. Military mortgages can help you do this and if you qualify which you should in most instances then you can start to make long term plans for your living situation.

Mortgages are usually available up to 95% loan to value, this means you can get on the property ladder with just a deposit of 5%.  Below is an example of deposits for a £200,000 property.

  • 5% deposit = £10,000
  • 10% deposit = £20,000
  • 15% deposit = £30,000


It’s no great mystery that the more deposit you have the better your chances are of obtaining military mortgages.  It’s always worth saving as much as you can to give you the best chance of getting on the property ladder and getting that all important yes decision.  Obviously in most cases the more deposit you put down the less your monthly repayments will be. Mortgage rates change all the time and having a decent amount of deposit to put down will help open you up to new schemes and deals.

There are 5 main reasons to save, save, save when it comes to deposits for military mortgages, these are as follows:

  1. Cheaper monthly repayments, this one is obvious.
  2. Better mortgage offers as you are less of a risk to mortgage lenders
  3. Your chances of being accepted improves as your affordability rating does.
  4. Bigger buying budget so more choice for property.
  5. Less risk in the long term. You’re less likely to fall into negative equity.


There are 100% mortgages out there but these come with higher risks and usually higher interest rates. These carry a significant risk so we would advise strongly you save up for at least a 95% mortgage.

Military Mortgages

With a mortgage deposit for military mortgages you are paying off a chunk of your mortgage so it makes sense to pay off as much as you can. Usually 10% is the most people put down though if you have access to a bigger deposit then this helps you long term. Paying a bigger deposit means paying less interest so the savings in the long term can be huge.

Military MortgagesThere are ways to help yourself save up a deposit which could make things easier when applying for military mortgages. Set up a monthly standing order into your savings account so it comes out on the day you get paid each week or month. Start saving as soon as you even think in the future you might want to buy a property, rather than leave it until the last minute and only have 6 months to save. If you have a partner then Save together, obviously this will increase the amount you save.

Ideal Home Loans can advise you on all matters related to deposits and military mortgages. Get in touch today for a free informal chat on your requirements.