UK government introduce new policy to help self-builders
Those who are considering building their own home will be pleased to know that the UK government has announced plans to increase house-building and make it easier for self-builds to begin.
The new policy includes the creation of a Housing Finance Institute that aims to increase the amount of affordable homes being built across the country through reducing the skills and knowledge gap in the construction industry. It will also provide help for those looking to build their new home themselves.
A £150 million fund has been allocated to help increase the number of self-build projects being built, with its most recent phase being opened to bidders on the 12th March.
The money will fund the creation of up to 10,000 ‘serviced plots.’ These ‘service plots’ will be land that has been specially prepared for house-building. The plots would already be connected to utilities like gas and water, making them immediately ready for construction to start. The result of this would be a reduction of time spent on self-build projects of up to a year.
The start of the most recent phase will mean that small builders and community groups can now bid for the fund, which will act as a short-term loan. Once the land has been prepared, it shall be sold as individual plots to those wanting to build their own home.
In addition to the fund, councils will have to maintain a register of people who want to buy a serviced plot of land. Under the Self-build and Custom Housebuilding Bill 2015, councils must also ‘take account of the demand for self and custom build when exercising their planning, housing, regeneration and land disposal functions.’
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