Build Your Own Home in England with Help to BuildBack to all blog posts
Looking to Build Your Own Home in England?
If you’re hoping to build your own home in England – this is the best time to do it! The government recently announced a help-to-build scheme to financially support ambitious citizens looking to acquire land and build their future homes on it. Being able to build your own home has always been an incredibly popular option for a lot of people, and this loan makes it all the more accessible.
The introduction of this scheme means that dreams of homeownership can finally become a reality. This scheme is even available to people who haven’t owned a home before and have a much smaller deposit. The introduction of this help-to-build loan wants self-building to be an accessible option for people across England and offers a number of benefits to anyone who qualifies for the scheme. You have to have the right to live in England in order to qualify for this scheme which makes settling in England an attractive choice for people across the UK.
Having a custom or self-build allows you to:
- – Control the design of the house to suit your lifestyle. From the inclusion of smart technology to a more energy-efficient build, you can control every little detail of your future home.
- – Design a layout that works best for you and your family. Whether you want all the bedrooms next to each other or a wing dedicated to the adults in the house, building your own home grants you the freedom to choose.
- – Choose the perfect location to settle down. From the size of your land to the surrounding area, you can have full agency over where you call home.
How to access the scheme?
The equity loan offered by the help-to-build scheme can be between 5 – 20% of the total cost of the land and building. This can increase to 40% in London as real estate is far more expensive than in the rest of the country. If you’re eligible, you can spend up to £600,000 on your new home (including the cost of the land) and a max of £400,000 on the actual building of your home.
You are eligible to apply for the help-to-build scheme if you:
- – Are 18 or older and have the right to live in England
- – Will live in the newly-built home as your only home
- – Secure a self-build mortgage from a lender registered with help-to-build
You can find out more about the scheme, including how to apply, by visiting the official website:
Deciding to self-build is a huge step that can be very daunting to take alone, especially if it’s your first time owning a home! There’s a lot that goes into owning and building a home and we want you to be prepared as possible so you can spend less time worrying and more time building the perfect future.
If you’d like some expert mortgage advice before applying for the scheme or want to talk about your options for self-build mortgages, we’re here to help! Get in touch with a member of our amazing team – we’re always happy to assist you in any way we can!