Need to know

Help to Build to make self building more mainstream

For some house hunters, self building can seem more like a distant dream than a reality. However, the imminent introduction of the Help to Build scheme looks likely to change that, making this route to a high-quality home more accessible by providing government-backed loans and reducing the deposit needed on self build mortgages.

While details on how the scheme will work are currently limited, the government has confirmed that it will provide an initial £150 million in dedicated funding to turn self building into a realistic option for everyone in the UK. Set to run over four years, Help to Build is likely to operate in a similar way to the Help to Buy scheme, allowing potential self builders to secure a finance for the plot and works with a deposit as low as 5%, topped up with a government-backed equity loan. Buyers could also use the scheme to purchase custom build new homes with the same low-deposit offering.

We’re keeping a close eye out for more details about the scheme and when it will open to applications, but hope to see it commence in late summer. Watch this space for updates.

At Graven Hill, we’ve been in full support of the Help to Build scheme from the moment it was announced. Watching our European neighbours pave the way with self building and creating communities filled with character has shown that there is still some way to go for the UK. But we’ve also been able to see what can be achieved when this route is given the attention and support it deserves.

It has always been our mission to help change the public’s attitudes towards self building, as we firmly believe in the role it will play in the future of UK housing. As life evolves, so do people’s requirements, and there shouldn’t be any need to compromise. Whether it’s accommodating office space or ensuring accessibility for family members with disabilities, everyone should be able to achieve their perfect home.

At present, people are limited by the availability and location of self build land, so it’s vital that more is unlocked nationwide to meet the expected demand. In our experience, the interest in self build plots is significantly higher than the more traditional options, proving that the appetite is there when buyers are given the opportunity.

Although the announcement of the scheme is great news for UK housing, in order to keep the momentum going, the government will need to confirm details soon. It is likely that the Help to Build programme will experience the same high volume of applicants as Help to Buy, so the industry should begin to prepare now for an influx of enquiries.

To cater for the expected demand, we will be releasing a number of new self and custom build plots for buyers looking to create their own home. Alongside the financial support of Help to Build, those who choose to build at Graven Hill will continue to benefit from our Plot Passports and Golden Brick Packages, which help make creating your own home simpler.