UPDATE:-Government Self and Custom build action plan January 2022.

UPDATE:- Flosh Meadows Self & Custom build have registered their interest in the governments financial self builders scheme.

Prospective self & custom builders who are interested in any site should also register at: https://help-to-build.homesengland.org.uk/

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Self and custom build mortgage finance

Multi-year funding for ‘Help to Build’ was announced at the 2020 Spending Review. In April the government confirmed an initial £150 million over 4 years to support the scheme to deliver low deposit mortgages and improve affordability of home ownership for self and custom builders similar to Help to Buy.

1. Introduction

The housing market is dominated by a small number of volume builders and to reach the ambition of delivering 300,000 additional homes per year we must maximise delivery across new and existing sub-sectors, catalysing new tenures and giving consumers greater choice over housing products.

Self and custom build housing harnesses the power and initiative of individuals to instigate building projects giving them control over the look and feel of their home. Often utilising small sites of little interest to major builders, the sector brings forward housing projects delivered through SMEs and specialist builders, helping to build a more diverse and resilient housebuilding sector, and improving the design and quality of homes as they are built by the people who will live in them.

The self and custom build sector is under-developed in the UK. In Europe and North America, the sector delivers a much higher proportion of housing output. Only 7% of homes in UK are built via self and custom build, delivering an estimated 13,000 units in 2018. Nonetheless, even at this underdeveloped scale, this level of output is enough to make the sector the equivalent of UK’s fourth largest housebuilder. There is capacity to expand and if we increased to levels similar to the Netherlands, we could see 30-40,000 self and custom build homes built annually.

The government is committed to increasing the number of self and custom build homes in this country and to establish it as a mainstream option for people to choose to get on the housing ladder or when moving home. The government has previously brought forward initiatives to tackle the barriers to the growth of the sector, and now we are bringing these initiatives and new ones together under one self and custom build action plan.

more information at :
https://www.gov.uk/government/publications/self-and-custom-build-action-plan/self-and-custom-build-action-plan

 

Self Build is not for Wimps

Self Build is not for the faint hearted:

(sub titled as I am advised by family & friends that ‘Wimps’ is a harsh word !!!)

A plethora of advice, for and against self build now also being called Custom Build for family homes is now available online, especially at the excellent and comprehensive National Custom & Self Build Association web site

Building your own home can be one of the best life style & financial choices a family can make but it should be entered into only following thorough research and a willingness for hard work. It can bring exceptional financial benefits if you ‘put in’ a lot of the work yourselves and control your costs by careful buying of materials and sub contractor costs; if this is not what you want to do it may prove more expensive than buying a standard house “of the peg”. 

Flosh Meadows owners say “All prospective self builders should carry out an in-depth study of their personal wishes, ability, determination, time and finances before committing to any irrevocable purchase or action”.

A self builder cautioned me some years ago; “you spend 12 month building your perfect designed high quality home and possibly if you are not careful 24 months re-building your relationship” so be fully aware of the difficulties before you make a life changing decision.

It is not our intention to sell you the idea of self build. We simply offer our self build, Flosh Meadows serviced plots in a wonderful part of West Cumbria within short walking distance of the internationally renowned The Lake District National Park a World Heritage site.

We consider the following article by the well known and financially astute people at This Is Money website is a brilliant place to start:
Continue reading “Self Build is not for Wimps”

New model for self-build set up by Parliament

Strict planning laws, expensive land and a lack of lending all impede the Government’s aim of growing the UK self-build sector from 100,000 to 200,000 over 10 years. But measures  such as Help to Build MIG could soon ease this problem reports Mortgage Strategy on 10 July 2013.

In a fresh push last month MPs, lenders and policy makers set up an all party parliamentary group on self-build.

The idea is to raise awareness of the issue in parliament and create a forum for lawmakers to implement changes that could boost self-builders. Continue reading “New model for self-build set up by Parliament”

MPs to consider if Mortgage Indemnity Guarantee could extend to self-builders

A group of MPs will explore whether it is possible to include self-build projects in the Government’s Help to Buy mortgage indemnity guarantee scheme as part of efforts to make the sector more accessible.

An all-party parliamentary group for self-build has been set up to explore how to boost the number of self-build projects in the UK from 100,000 to 200,000 within the next decade. Continue reading “MPs to consider if Mortgage Indemnity Guarantee could extend to self-builders”

Self-builders keen to spread the word

Which of us hasn’t fantasised about a new house, exactly as we want it? You know the sort of thing: swimming pool in the garden, ‘his and hers bathrooms’, or even a home cinema. Well, such dreams may not be as far-fetched as you think, because around 15,000 people a year are now building their own homes. Most buy a plot of land, then hire architects and builders to do all the physical work for them.

By avoiding the large profit margins of developers, they can save tens of thousands of pounds AND have a home designed solely for them. Continue reading “Self-builders keen to spread the word”

Housing minister calls for more self-build mortgages

Housing minister calls for more self-build mortgages

Speaking at a conference organised by the Council of Mortgage Lenders, Housing Minister Mark Prisk encouraged lenders to make it easier for people to build their own homes.

The self-build market in the UK has been hampered by limited availability of land and red tape, as well as a lack of self-build mortgages. Continue reading “Housing minister calls for more self-build mortgages”

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