£150m funding for self build. What does this include and what does it mean for people building their own homes?
The Chancellor announced plans to make self build easier in today’s (19 March 2014) budget.
He confirmed that the Government proposes a Right to Build which will force councils to supply self builders and custom builders (effectively large scale self build schemes with plots if they demand it. The consultation on this scheme is expected to be set up within weeks.
Additionally, he announced the extension of a long-standing ‘revolving fund’ to help enabling developers turn land into serviced plots — the fund will now stand at £150m. This will help provide 10,000 serviced plots.
Finally, the Government will also look to extend the successful Help to Buy scheme for self builders. So-called ‘Help to Build’ was one of Homebuilding & Renovating/NaSBA’s recommendations to Government in 2013.
Homebuilding & Renovating’s Editor Jason Orme says:
“The announcement that the Government is considering a Right to Build is exciting news for people who want to build their own homes. For years the Government has made positive noises about self build and enshrined many good things in planning legislation, but when it comes to the reality on the ground, nothing much seems to be changing. Forcing councils to provide land to people who want to build is one great way to overcome this blockage — and it rather puts an end to the Government’s Localism agenda.
The £150m revolving fund for businesses to develop custom build sites is welcomed. There are huge start-up costs in servicing building plots on a large scale and regular financing is still not easy. Around 1 in 8 people in the UK wish to build their own home, according to surveys, and large-scale self build developments, while not to every self builder’s taste, are a great way to get there.”