Last reviewed 6 May 2021
New plans, supported by over £150 million in new funding, will make it easier and more affordable for people to build their own homes, the Housing Secretary Robert Jenrick has announced.
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, he explained.
“Building your own home shouldn’t be the preserve of a small number of people,” Mr Jenrick said, “but a mainstream, realistic and affordable option for people across the country. That’s why we are making it easier and more affordable — backed by over £150 million new funding from the Government.”
Lowering the required deposit will, he went on, free up capital so that people can build the home that they want and need whether it is a commissioned, made to order, home or a new design from scratch.
Help to Build will provide an equity loan on the completed home, similar to the Help to Buy scheme.
Self and custom build could, Mr Jenrick concluded, deliver between 30,000 and 40,000 new homes a year: a significant contribution to the Government’s housebuilding ambitions.
The Prime Minister has commissioned Richard Bacon to lead a review on how the Government can scale up the delivery of self and custom build homes.
With details available at GOV.UK¸ the review will report its findings and recommendations in the summer.