{"id":51009,"date":"2019-01-14T14:13:08","date_gmt":"2019-01-14T14:13:08","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=51009"},"modified":"2019-01-14T14:13:08","modified_gmt":"2019-01-14T14:13:08","slug":"wales-self-builders","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/wales-self-builders\/51009\/","title":{"rendered":"Wales injects \u00a3210m to support self-builders"},"content":{"rendered":"

Building your own home in Wales will become easier thanks to a new \u00a3210m scheme announced by the Welsh Government<\/h2>\n

The scheme titled, Self-Build Wales, will see the Development Bank of Wales<\/a> guarantee loans on pre-agreed plots.<\/p>\n

The loans will be repayment free until the new home is mortgaged allowing people to build their new home and cover living costs.<\/p>\n

Successful applicants can choose to use an approved builder or in certain circumstances do the work themselves.<\/p>\n

Local authorities and housing associations<\/a> will make plots available with planning and site requirements complete. Every plot will have a \u2018Plot Passport\u2019 including approved designs, an estimated build cost and options for personalising the home<\/p>\n

Approved applicants can reserve a plot by providing a 25% deposit on the plot cost. The Welsh Government through the Development Bank of Wales will provide the rest of the funding.<\/p>\n

Housing and Local Government Minister Julie James said: \u201cWe want to make self-build available to many more people in Wales, not just the most privileged households. Finding the land, navigating planning consents and being able to afford to self-build<\/a> while covering the cost of living can be real barriers.<\/p>\n

\u201cWe have launched this scheme in partnership with local authorities to overcome all of these barriers. This offers a route into home ownership for people who want to stay in their local area but haven\u2019t previously been able to afford to buy there. It also offers older and disabled people the opportunity to build custom adaptive housing that meets their needs in the communities where they want to live.<\/p>\n

\u201cFigures suggest an average self-build house in the UK costs only 70-75% of its final value because no developer profits are involved. This puts that benefit into the pocket of the homeowner. At around 10% of new homes, the UK has a much lower rate of self-building than other countries around the world.<\/p>\n

\u201cAs we work to increase the amount of housing available, this scheme will help people who wouldn\u2019t normally think of self-build to consider it seriously.<\/p>\n

\u201cThe scheme will launch in late spring this year, and in the coming months there will be more information available on the Your Home in Wales<\/a> website.\u201d<\/p>\n

Commenting on the introduction of Self-Build Wales, Ifan Glyn, Director of FMB Cymru<\/a>, said: \u201cSignificant growth in the custom and self-build market could help alleviate the housing crisis and will expand opportunities for small building firms across Wales.<\/p>\n

\u201cWhen you consider the housing crisis<\/a> that exists, the custom and self-build market has been an under-utilised sector in the ongoing battle to meet the demand for homes. Research has shown that over half of adults in the UK would one day like to build their own home. Across the EU, approximately one-third of all homes are custom or self-build whereas in Wales, it\u2019s just five per cent. People want to custom or self-build their home but the right conditions haven\u2019t been in place to allow them to do so.<\/p>\n

\u201cSelf-Build Wales could play an important role in creating new sources of supply, by encouraging new entrants into the housebuilding sector and generally boosting the health and diversity of our industry.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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