Need finance to build a home?
What is the Self-Build Loan Fund? The Self Build Loan Fund (SBLF) is a Scottish Government initiative to assist self builders where they have been unable to obtain mainstream self build mortgage finance. The fund is available Scotland wide to support additional housing provision across rural and urban areas. Eligible individuals can borrow up to £175,000, which they can draw down in staged payments similar to a traditional self build mortgage. Borrowers must provide a Professional Advisors Certificate at each stage of drawdown. The SBLF is designed to fund the construction phase of a new home and, once this is completed, the borrower will repay the loan either via a mainstream mortgage or by using the equity from the sale of their existing home. The Scottish Government has appointed the Highlands Small Communities Housing Trust (HSCHT) to administer the SBLF on its behalf and the Self Build Loan Fund Officer responsible for this is Neil Walker who has 33 years experience in the banking and financial sector and is well placed to provide assistance and guidance.
Who can apply?
A key purpose of the fund is to create additional, new homes for permanent residency. To apply you need to meet the following criteria:
• Demonstrate that you have been unable to obtain mainstream self-build mortgage finance for a new home - not a conversion or extension
• Intend to occupy the property as your sole and only residence
• Own a house plot
• Have full planning permission in place and be ready to apply for a building warrant
• Have a defined elemental build cost and construction programme
• Be able to demonstrate you will be able to repay the loan upon completion of your build.
Not ready to apply?
If you don’t presently meet all of the criteria, or have any concerns, get in touch to discuss your case.
Further information?
For further information, please contact the Highlands Small Communities Housing Trust; e: neil.walker@hscht.co.uk t: 01463 572 030
7 Ardross Terrace, Inverness, IV3 5NQ