The Society of Mortgage Professionals and Personal Finance Society are calling on brokers to deliver free help to members of the Armed Forces and veterans in need of homebuying advice. 

The societies, which are both part of the Chartered Insurance Institute, are seeking mortgage advisers to sign-up to offer financial guidance to servicemen and women, as well as people who have retired from the forces.

Forces MoneyPlan aims to improve financial wellbeing and make personnel and veterans less vulnerable to misinformation and scams.

Since the start of the pandemic, Forces Moneyplan has seen a significant increase in demand for mortgage guidance.

Currently there are 206 financial planners who have volunteered to offer financial guidance through the scheme.

Financial advisers who sign-up to Forces Moneyplan are given support to deliver guidance sessions and are matched with personnel based in their local area who need their assistance.

SMP and PFS membership director Mark Hutchinson says: “The unique nature of life in the armed forces means sadly some personnel find it a struggle to get on the property ladder for the first time or change their mortgage provider.

“This Financial Planning Week we want more of our members to sign-up to offer guidance sessions through Forces Moneyplan and help serving as well as retired military personnel understand their mortgage options. 

“A career in the armed forces should not make it more challenging to buy a home and secure protection for the roof over your head.”