{"id":112191,"date":"2022-06-24T15:22:35","date_gmt":"2022-06-24T14:22:35","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=112191"},"modified":"2022-06-27T12:05:56","modified_gmt":"2022-06-27T11:05:56","slug":"help-to-build-equity-loan-scheme-housebuilding","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/help-to-build-equity-loan-scheme-housebuilding\/112191\/","title":{"rendered":"Government launch new Help to Build equity loan scheme"},"content":{"rendered":"

Today (24 June 2022), the government has announced a new ‘Help to Build’ equity loan scheme, which will help to support people onto the property ladder and build their own home<\/h2>\n

The Help to Build scheme<\/a> is backed by \u00a3150m of government funding, and will help people to overcome prohibitive mortgage costs to build a home that is tailored to their needs and in a community of their choice, with just a 5% deposit towards land and building costs.<\/p>\n

Open for applications from Monday (27 June), Help to Build aims to level up communities by supporting young people and families into homeownership.<\/p>\n

The scheme can help people with specific living requirements, creating homes that are tailored to their needs, including those with disabilities or those who live with large families or elderly relatives.<\/p>\n

Help to Build is part of the government\u2019s plan to boost the UK\u2019s underdeveloped self and custom build sector, which will create jobs, increase the number of new homes and help grow the economy.<\/p>\n

Breaking down the barriers to home ownership<\/h3>\n

Housing Minister Stuart Andrew commented: “Through the Help to Build scheme we will help thousands more people onto the property ladder by giving them the opportunity to build homes that are perfectly tailored to their needs and in the communities they want to live in.<\/p>\n

“This innovative scheme will build on our work to break down the barriers to homeownership, as well as creating new jobs, supporting the construction industry and kickstarting a self and custom build revolution.”<\/p>\n

‘Custom and self-build housing can play a role in addressing the nation\u2019s housing challenge’<\/h3>\n

Richard Bacon, for South Norfolk, added: “I am very pleased by the government\u2019s warm response to my Review. The government recognises the crucial role which custom and self-build housing can play in addressing the nation\u2019s housing challenges, including delivering more affordable housing<\/a>.<\/p>\n

“Making it easier for people to build or commission their own homes helps to promote a more diverse housing market with more real choice and control for consumers.<\/p>\n

There is clear evidence that getting people more involved in decisions about housing helps to deliver houses that are better designed and better built, which are greener and cost less to run and which communities are happier to see built. I look forward to working with the government to progress this important agenda\u201d.<\/p>\n

Help to Build will help families bridge the gap between their deposit and the cost of building material and land, allowing applicants to borrow between 5% and 20% of their costs across England \u2013 and up to 40% in London.<\/p>\n

The government has also today set out the measures that it will take forward to boost the sector:<\/p>\n