A new scheme has been announced to help people build their own homes in Wales, boosting the Welsh construction industry at the same time. 

  CEFN CASTELL GRAND DESIGNS TV HOUSE EXTERIOR

Image: Rob Hodgson and Kay Ralph only bought the plot for Cefn Castell in West Wales when a property purchase fell through due to the financial crash, but fell in love with plot's view over Cardigan Bay. 

The Welsh Government has unveiled a new initiative to incentivise self-building of homes in the country. Self Build Wales is a £210 million fund managed by the Development Bank of Wales which aims not only to grow the housing supply and remove the barriers to custom builds, but also to provide new opportunities for small and medium sized Welsh builders.  

Deputy Minister for Housing, Hannah Blythyn explained: "While we are investing significantly in building new social and affordable homes, we also want to help far more people who want to build their own homes – doing so should not be the preserve of the most privileged households."

When it comes to building your own house, there's a perception that a project is difficult to source a plot for, plan and finance, however the new scheme looks to break down these self-build myths. The scheme provides 'oven ready' plots that are suitable for self-builds, and loans will only be available on these pre-agreed plots. 

Each of the plots will come with a ‘Plot Passport’ including the cost of the plot, approved designs, an estimated build cost, the priorities and options for personalising the home.

If successful applicants will be entitled to a loan that covers 75% of the plot cost and 100% of the cost to build the home. The loans will be secured with a 25% deposit on the plot. These loans are not required until the new property is completed, helping self-builders to meet everyday living costs, and repayments can be deferred for up to two years after the build.

More information can be found on the selfbuild.wales website, where you can search for a plot by postcode. At the time of writing, there are approximately 20 plots in various stages of planning, however, all of these are in the south of Wales. 

 

Would you be interested in applying for this new scheme? Share your thoughts with us by tweeting us @granddesigns or post a comment on our Facebook page.

 

MORE ARTICLES

7 trending eco-friendly construction materials

How to find a plot: the complete self build guide

How long does it take to build a house?

Kevins Column

Top self build highlights at Grand Designs Live 2019 hosted by Kevin McCloud

Find top experts, specialist exhibitors and a wealth of inspiration for your self-build or renovation project all under one roof.
visit-award-winning-grand-designs-live-hosted-by-kevin-mccloud
 
 
guide-to-property-bonds
Self Build Homes

Your guide to property bonds

Property bonds provide an attractive investment opportunity. We provide a quick guide to all that you need to know.
self-builds-on-awkward-plots
Self Build Homes

4 self-build houses on awkward plots

These self-build homes may have had plots with problems, but that didn't stand in the way of creating incredible properties.
self-build-mortgage-completions-grow-144
Self Build Homes

Self-build mortgage completions grow 144% this year

New data shows a huge increase in the number of self-build completions using specialist mortgages year-on-year.
pick-a-front-door-for-your-project
Self Build Homes

How to pick the perfect front door for your project

First impressions count and an entrance door sets the tone for your whole property.
what-is-a-turnkey-self-build-home
Self Build Homes

What is a turnkey self-build home?

Explore the idea of these hands-off self-builds, where a single company has taken the project from concept to completion
acme-oast-house-in-kent
Self Build Homes

Explore this re-imagined oast house in Kent

A creative self-build inspired by Kent’s iconic hop-drying towers made use of local skills to create a cosy family home.