ao link
Twitter
Facebook
Linked In
Twitter
Facebook
Linked In

You are viewing 1 of your 1 free articles

Welsh government unveils £210m self-build scheme

Ministers in Wales will this year launch a scheme to help people build their own homes, with £210m of projected funding over the programme’s lifetime.

Linked InTwitterFacebookeCard
Picture: Getty
Picture: Getty
Sharelines

Welsh government unveils £210m self-build scheme #ukhousing

Through Self Build Wales, councils and housing associations will make plots available for self-building, which are already permissioned and prepared for development.

People will apply for a ‘Plot Passport’ to build a home on the sites, secured by paying a 25% deposit on the plot cost.

Other factors such as energy efficiency, household income and local housing need may also be taken into account if multiple people apply for the same plot.


READ MORE

Bromford selected as partner on UK’s largest self-build siteBromford selected as partner on UK’s largest self-build site
Custom build could be a genuine solutionCustom build could be a genuine solution
The rise of the custom buildersThe rise of the custom builders

The Development Bank of Wales will then offer would-be builders guaranteed loans on the plots to cover the rest of the development, repayment-free until their new home is mortgaged.

The scheme will be launched in spring with £40m of initial funding.

The Welsh government will then pay for the rest of the funding through the Development Bank of Wales.

Individuals will be allowed to choose whether to build the home themselves or use a builder approved by the Development Bank of Wales.

The scheme will be subject to similar rules as Help to Buy in Wales – with successful applicants only able to use the scheme once, homes must be used as the self builder’s main residence and must not be sold on or rented for at least five years after completion.

Julie James, housing and local government minister for the Welsh government, said: “We want to make self build available to many more people in Wales, not just the most privileged households.

“Finding the land, navigating planning consents and being able to afford to self build while covering the cost of living can be real barriers.

“We have launched this scheme in partnership with local authorities to overcome all of these barriers.

“This offers a route into homeownership for people who want to stay in their local area but haven’t previously been able to afford to buy there.

“It also offers older and disabled people the opportunity to build custom adaptive housing that meets their needs in the communities where they want to live.”

The Welsh government said that an average self-build house in the UK costs only around 70-75% of its final value because no developer profits must be accounted for.

Around 10% of new homes in the UK are self built – much lower than in some other countries.

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.