The government has launched it's "Help to Build" £150 million scheme aimed at self-builders.
The plans will allow people to custom-build a new home with just 5 per cent deposit alongside a Government-backed equity loan, similar to the Help to Buy scheme that operates through housebuilders.
Alongside the mortgage deal ministers have also announced funding for local authorities to develop public land for custom and self-build housing alongside a review into how delivery can be increased. Also included is a law review to enable more people to access plots in their local areas and further support for the National Right to Build Task Force.
Housing Secretary Robert Jenrick said: ‘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. That’s why we are making it easier and more affordable – backed by over £150 million of new funding from the government."
Response to the announcement has been positive with Andrew Baddeley-Chappell, chief executive of NaCSBA, saying "The Action Plan represents the single most important announcement for the custom and self-build sector since the establishment of NaCSBA over 10 years ago."