Shapps announces £30m self-build starter fund
Kevin McCloud appointed champion of National Self Build Association
Housing minister Grant Shapps has announced a £30 million fund for self builders as part of the government’s pledge to double the size of the industry.
The fund will provide short-term finance to help fund land acquisition and early development costs, with money repaid on completion of the project.
Shapps said: “The self-build industry is riding the crest of a wave, with more people than ever wanting control over the design and build of their home. But despite this self-build surge, we continue to lag behind the rest of the world. I am determined to change this so anyone who wants to embark on a self-build project has the opportunity to do so.
“Self-build is good news for the economy – so I’m writing to lenders and encouraging them to use their own industry’s toolkit to see how they can lend to those who want to build their own homes and expand into this growing market.”
Shapps added he will also write to key lenders in the mortgage market, highlighting the “strong business case” for self-build in a bid to boost the number of mortgages for the market by 141%.
Earlier this month architects welcomed the government’s backing of self-build and the RIBA said the government’s commitment to the sector was “promising”.
And this week Shapps travelled to Almere in the Netherlands to visit Europe’s largest self-build project, together with Kevin McCloud, the newly appointed champion of the National Self Build Association.
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Readers' comments (4)
It is good to see the UK Government looking to vary the supply of housing. Self build has struggled in this country not because there is no appetite for such housing but very few created the infrastructure framework to allow such a delivery method to take place. I hope that the Government understands that good self build practice in the Netherlands, Germany and Scandanavia works as a result of the State putting in the Place infrastructure framework that allows self build to be realised. What we need in Britain is a similar approach with local authorities entering into joint ventures with long term private investors to create such frameworks. The Scottish Government's Delivering Better Places guide highlights such good practice http://www.scotland.gov.uk/Publications/2010/12/31110906/0
The problem is the cost and availability of land. Local Authorities should designate land with fast track planning permission at a reasonable cost. This could be low grade agricultural land and be restricted to local people. Such a scheme would stimulate the economy and provide desperately need homes.
Wow,you could probqably help at least 1000 people?
john- if the euro goes into meltdown we can declare the whole of the UK an 'enterprise zone'- on a strictly 'build what you like where you like' basis.