2014 budget lays the foundations for Self Builders

24/03/2014

The Stamford Stone Company are delighted with the support offered by the government in helping the many potential clients considering self-build to get their home building underway. Many of The Stamford Stone Company’s clients have already taken or are about to take this leap into the unknown. It is however getting much easier to acquire building plots and our sales team can show you quite a few completed projects in the Clipsham ‘Stamford’ Stone and offer plenty of technical assistance showing why Natural Stone is the right choice for your self-build home. From Stone Block, Walling, Flooring or Fireplaces our range of locally quarried Natural Stone enables your home to stand out from the crowd. 

“The government is offering unprecedented levels of support for self-builders, so there has never been a better time to get your project underway.”

The government is consulting on providing £150m of funding to help prospective homeowners build their own properties. The Chancellor, George Osbourne, announced that the government are working on a new “Right to Build” scheme giving self-builders the right to buy plots of land from local authorities to construct their own homes. The scheme is intended to include setting up a repayable funding framework to provide around 10,000 serviced plots of sufficient scope for self builders to construct a home of their own design.

The coalition are also considering extending the ‘Help to Buy’ equity loan scheme to enable Self Builders to benefit from the arrangement which initially was introduced solely for the purpose of purchasing new build properties from selected developers. The scheme which allows 95% mortgages for ew build homes up to the value of £600.000 has already been extended to 2020.

The chancellor went on to state The move is part of a package of measures designed to increase Britain’s limited housing supply. “House building is up 23 per cent,” said Mr Osborne. “But that’s not enough.”

The Government has striven to bring self-build into the house building mainstream. Its Housing Strategy for England announced in 2011, confirmed their intention to double the output of self-build housing from 100,000 units to 200,000 units over the following 10 years.

These initiatives are in addition to recently launched 3 year “Revolving Loan Fund’ which has been set up with £30m of funding to provide short-term finance for self build groups. The government has also supported self-builders with an exemption scheme on the community infrastructure levy as part of plans brought into force in October 2013.

For more info on our range of products and services call us on 01780 740970 or email us at info@stamfordstone.co.uk.

Or view our self build case study here.

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