£210m to help people in Wales build their own home

A new £210 million scheme to assist people build their own home and increase the supply of housing in Wales has been launched.

Self Build Wales, which is financed by the Welsh Government and managed by the Development Bank of Wales, provides people with ‘oven ready’ plots and a loan that covers 75 per cent of the cost of a building plot and 100 per cent of the cost to build a home.

The scheme, which provides new opportunities for Welsh SME builders to build quality homes, offers a route into home ownership for people who want to stay in their local area but haven’t previously been able to afford to buy there.

Figures suggest an average self-build house in the UK costs only 70 per cent of its final value because no developer profits are involved. This puts that benefit into the pocket of the homeowner. At around 10 per cent of new homes, the UK has a much lower rate of self-building than other countries around the world.

Hannah Blythyn, Deputy Minister for Housing, said: “We want to unlock the potential to build houses in Wales. 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.

“We know finding the land, navigating planning consents and being able to afford to self-build while covering the cost of living can be real barriers. Self-Build Wales removes these barriers, and makes it far easier for people to build their own home. It will also be a significant boost to building firms across Wales. As we work to increase the amount of housing available, this scheme will help people who wouldn’t normally think of self-build to consider it seriously.”