The government has launched its Help to Build scheme, aiming to give thousands of people and families in England the opportunity to build their own homes.
Making self and custom-designed homes can require huge sums up front, meaning it has not been a realistic option for many buyers.
The average for a self and custom build deposit is around 25% of land and building costs.
Help to Build allows applicants to borrow between 5% and 20% of their costs across England – and up to 40% in London, backed by £150 million of government funding.
The scheme can help people with specific living requirements, creating homes that are tailored to their needs, including those with disabilities or those who live with large families or elderly relatives.
The Help to Build initiative follows on from the government’s Help to Buy and Right to Buy, which have helped more than 765,000 people buy their own homes.
It is hoped that the scheme will also boost the self and custom build sector, supporting SME builders and creating new jobs
Help to Build is now open for applications. Total build costs cannot be over £600,000, or £400,000 if the land is already owned, and applicants must live in the property as a primary home.
Please contact us if you would like advice about buying or selling a property.