Self-build fund

People across Scotland who want to build their own homes can apply to a new self-build loan scheme.

A £4 million fund is now open for applications.

Self-build is a traditional form of housing supply in the islands and many parts of rural Scotland and at times, the only form of housing supply.

However, it has become increasingly difficult to obtain self-build mortgages.

Loans are available for eligible urban or rural self-builders who are unable to access standard bank lending to support build completion, allowing access to a traditional mortgage which is used to repay loan.

The £4 million fund was set up following a successful review of a pilot scheme in the Highlands.

Housing Minister Kevin Stewart said: “We know that people are interested in building their own homes and in some cases, it is the best way for families to tailor their homes to their needs.

“However, we also know that it can be tough to secure funding and get the right advice, which is why we set up the self-build loan fund to help those that need to access finance.”

The Highland Small Communities Housing Trust will administer the fund on behalf of the Scottish Government.

The trust's chief executive, Ronnie MacRae said: "Whilst not yet back to where it was self/custom-build is again a growing market and we're excited to be working with Scottish Government and a range of partners to ensure that this remains the case and self/custom-build goes from strength to strength as a housing option."

New fund provides help to build own home

10 September 2018