Help to Build is a new government scheme providing £150 million fund to make self build more accessible and affordable:-

https://www.homebuilding.co.uk/advice/help-to-build

 

New ‘Help to Build’ scheme will make it easier and more affordable for people to build their own homes:-

https://www.gov.uk/government/news/over-150-million-funding-to-kickstart-self-building-revolution

Edited April 26, 20215 yr by MAB

Isn't there a danger that this will simply lead to increased prices for self-build plots?

On 26/04/2021 at 19:26, NSS said:

Isn't there a danger that this will simply lead to increased prices for self-build plots?

Absolutely. I believe that a review of the help to buy scheme found that it led to higher house prices overall, which served to block another generation of first time buyers from the market. 

Government is proposing incentives to get developers to build houses that already have planning permission.  One of the proposed incentives is to start charging council tax a year after planning permission is granted regardless of the state of the property. I do hope self builders are exempt.

Is anyone postponing the start of their build in the hope of getting a Help To Build mortgage?

Is that a sensible thing to do?

52 minutes ago, WWilts said:

Is that a sensible thing to do?

 

take a look at the help to buy.  afaik if you sell after some time and there's been an increase in the value, you have to pay back that %age on your loan amount!    

 

So let's say you build for 450k and then it's worth 650k and a few years down the line you sell for 900k. You borrowed from the help to build scheme say 100k and have been paying interest and then suddenly the 100k has become 200k in value and you've got to turn that over to the Exchequer.  

 

It might not turn out like that but.....     we're not waiting....

 

Simon

The way labour and materials are rising i reckon any benefit of waiting will be well and truly wiped out