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NEWS


NaCSBA welcomes Government’s ‘Help to Build’ fund plan to open self- and custom- building to more people


The National Custom and Self Build Association (NaCSBA) has welcomed the launch of the £150m Help to Build equity loan fund, which it says will “support more people to access an owner-commissioned home.” The organisation said that research published in October


2020 found that one in three British adults were interested in pursuing a self-build. Recently launched by Housing Secretary Robert Jenrick, Help to Build will be “transformative” for the sector, said NaCSBA, adding that it is an “important recognition of the confidence that the Government has in custom and self-build, and the homes that will be delivered with the fund’s support.”


Help to Build will enable access to the self and custom build market for those with smaller deposits, and will provide access to additional funding and a lower mortgage rate than would otherwise be the case. A dedicated scheme was “necessary,”said NaCSBA, because “almost all custom and self-builders were unable to access the existing Help to Buy Equity Loan Scheme.”


In addition to the benefits of having a home built to owners’ designs and specifications, the scheme is based on the cost to the customer of building their home, and not the price for which a completed home is being sold. The news came as part of a Self and Custom Build Action Plan launched by the Government to boost activity in custom and self build. The Action Plan includes: • Prime Minister-commissioned review to establish a plan to scale up self and custom build homes • Review of the Right to Build legislation to improve how it is applied in practice • Self and Custom Build Land Release Fund for local authorities to bring forward plots on land they own • Funding for the Right to Build Task Force so it can continue to work with English local authorities. Andrew Baddeley-Chappell, NaCSBA CEO, said: “There has been a long-recognised need for greater diversity in our new homes market, and the Help to Build scheme is an important step towards greater customer choice for those with ambition, sound plans and smaller deposits. It is about increasing choice for the homebuyer.”


6 www.sbhonline.co.uk


may/june 2021


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