Latest news: Funding for self-build industry

The self-build construction sector looks set to go from strength to strength following the approval of £30million worth of government funding and the appointment of Kevin McCloud as industry champion. 17/05/2012

Self building has grown in popularity over the years, as a result of the poor economic climate and unpredictable property market. It involves people designing and building their own house, using a special kind of mortgage to help secure the land and contribute to each stage of the construction process.

According to the Department for Communities and Local Government , there are currently more than 100,000 Britons looking for self-build plots, helped by an expected 141% rise in the number of self-build mortgages on the market.

The government has pledged to double the size of the UK industry, which still lags behind the rest of the world - just one in ten of all new homes are built by self builders.

Commenting on the news, housing minister Grant Shapps, said, ‘Self-build is good news for the economy - so I'm writing to lenders and encouraging them to use their own industry's toolkit to see how they can lend to those who want to build their own homes and expand into this growing market.’

McCloud, architecture specialist and presenter of Channel 4’s Grand Designs, was appointed as industry champion by the National Self Build Association.

He stated, ‘In the past we have built some of the poorest performing, most expensive and smallest homes in Europe. That's not something to celebrate.

‘But there is another way. What if we became a nation of self builders like the Dutch? What if each household in the UK had the option to build their own place? What if large-scale developers provided finished-slab, fully-serviced sites for homebuilders?’

The news will come as a boost to construction industry professionals such as builders, architects and joiners, who are still required to work on self-build projects.