SOME £150m of funding has been made available by the Westminster Government for people in England, to help them build their own homes.
Begins an announcement, here, which applies only in England: “The ‘Help to Build’ scheme will ensure that self and custom home building can become a realistic option to get onto the housing ladder through lower deposit mortgages.
“Lowering the required deposit will free up capital, so people can build the home that they want and need – whether it’s a commissioned, made-to-order home, or a new design from scratch.
“The scheme will provide an equity loan on the completed home, similar to the Help to Buy [as explained, here, by the property website, OntheMarket] scheme.”
According to a survey published by the National Custom and Self Build Association (NaCSBA), some one in three people want to build their own home.
The government announcement anticipates: “Self and custom build could deliver 30-40,000 new homes a year”.
It quotes the housing secretary, Robert Jenrick, as saying: “Building your own home shouldn’t be the preserve of a small number of people, but a mainstream, realistic and affordable option for people across the country.”
The custom and self-build champion – the MP Richard Bacon – has been appointed by the Prime Minister to lead a review into how to scale up the sector, as announced here.
Picture credit: PlaceDesignScotland