Help to Build scheme
Last week Chancellor Rishi Sunak presented his spending review, announcing a significant investment of £7.1 billion over the next four years to support the National Home Building Fund.
The supporting documents detail £2.2 billion of new loan finance for housebuilders across the country, including the delivery of the Help to Build scheme for self and custom builders, and funding for SMEs and modern methods of construction.
This demonstrates the Government’s commitment to the diversification of housing in the UK by supporting self and custom build. Although the finer details are still to be confirmed, the news is highly welcomed in the sector.
It opens the opportunity up to a wider demographic, making it more achievable for aspiring self builders in the UK to design and build their own homes.
An additional £100 million of funding is also to be invested for measures such as the release of public sector land, including serviced plots for custom and self builders.
BuildStore CEO Raymond Connor supported the announcement “We believe this news will help aspiring homebuilders across the UK, making their self build dreams even more achievable. We look forward to moving into 2021, developing and introducing more products and services to our current offering to support the anticipated demand that Help to Build will bring.”