Borrow from £1,000 to £25,000 and repay from your salary at rates from as low as 4.5% APR.


Get into the savings habit with regular savings deducted directly from your armed forces salary.

About us

Forces Finance is delivered in partnership between London Mutual Credit Union and the MOD.

How it Works

Decide how much you’d like to save each month or borrow, and we’ll arrange the with your employer.

Join Forces Finance

Home Owner Loan

Borrow between £15,000 – £25,000 for any purpose with a Forces Finance Home Owner Loan

Borrow up to £25,000 if you own your home

With Forces Finance, home owners can borrow up to £25,000 at some of our our lowest rates. Whether it’s for a new kitchen, an extension or anything else, we can help.

Home Owner Loans

BorrowRepay overAPR
£15,000 – £25,0001  7 Years8.29%

Key Features

Get a loan for any purpose

No arrangement or early repayment fees

Get approved in as little as 2 weeks

Decisions by a person, not a computer

Build savings as you repay

Eligibility Criteria

To apply for this loan, you must:

Own your home in the UK (with or without a mortgage)

Be 18-74 years old on the date you apply

Be in the Armed Forces or otherwise eligible to join us

Not be in an IVA or bankrupt

Will I be approved?

All our loans are subject to manual credit and affordability checks. Your application is more likely to be approved if:

You can comfortably afford the repayments alongside your existing financial committments

You have not engaged in risky behaviours (such as heavy gambling), which could call into question your ability to repay.

What you’ll need


A copy of your most recent payslip

Details of your income and monthly outgoings (and those of you partner or spouse if applicable)

Your National Insurance number

Your Service Expiry Date (downloaded from JPA)

Application Process

Unlike many lenders, all loan applications are considered by a real person. The outcome of your application will be based on careful consideration of all the relevant facts, not just an automated score.

Apply Online

Loan Decision

Offer & Agreement



Apply Online

The online application will take roughly 15 minutes. As part of the process, we will ask for some information about your address history, your career, and your current household income & expenditure.

We’ll also ask you for copies of your recent bank statements and confirmation of the date you are due to leave the armed forces. It will speed things up if you have these ready, but if not, don’t worry—we will email you with a link to upload them later.


Loan Decision

After we receive your application, our team will look through all the information you have provided to decide if we can offer you a loan.

As part of this, we will check your bank statements to make sure that the repayments are affordable—this is to protect us both, by making sure we only lend you what you can comfortably afford to repay.

This process should take 7-10 days, and we’ll send you daily text updates so you know what’s going on, and in case we have any questions.


Offer & Agreement

Once our Loan Team have made a decision, we’ll let you know by email, letting you know how much we can offer you, the interest rate, and the amount you’ll repay each month.

Often, we’ll be able to offer you the full amount you applied for, but sometimes, it may be less. If you are happy to accept our offer, we’ll email you with a digital copy of your Loan Agreement, for you to read and sign.


Loan Payment

The best part! Once you return the Loan Agreement, the loaned funds will arrive into your account in 36 hours.

We will take care of the rest, and arrange with the Ministry of Defence for your agreed repayments to be deducted from your pay each month. You will see this listed on your payslip, alongside tax, student loan, and any other deductions you may have.

Home Owner Loan Calculator

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Apply for this loan

All loans are subject to affordability checks and our Terms & Conditions. Loans are offered subject to status to members aged 18 or over. The rates displayed on this page are for illustrative purposes only, and the actual amount and interest payable will be indicated in the Loan Agreement provided when we offer you a loan.