The NHBC reports that Housing Minister Grant Shapps has revealed details for the £30million Custom Build Investment Fund, designed to provide short-term loans to kickstart self-build projects. Seven new sites have also been dedicated to the self-build sector, providing over 100 plots for innovative homes.
This double boost for self-builders is part of a government drive to double the size of the self-build sector.
The £30million fund (formerly the ‘Revolving Fund’) will provide start-ups with up to 75% of their initial costs and is the first of its kind in the UK. To be eligible for funding, applicants must be building five or more homes on their site. Full details of who can apply can be found here: http://www.selfbuildportal.org.uk/custom-build-investment-fund The fund is expected to run until 31st March 2015.
Housing Minister Grant Shapps is keen to follow in the footsteps of the Almere self-build project in the Netherlands - the largest low-cost project of its kind in Europe - by offering sites to self-builders in the hope of generating self-build communities. Together, the seven sites currently announced allow for over 100 new homes. The Homes and Communities Agency have been charged with identifying further sites for the future.