Wednesday 11 July 2012
Housing Minister, Grant Shapps has granted permission for plans to construct the UK’s first large self-build project.
He also revealed that £30 million worth of funding has been allocated to provide loans to community groups, builders and small organisations interested in starting self-build projects.
The loans can be used to pay for up to 75% of the land required and for initial construction costs and will be provided to organisations looking to build five properties or more with a ceiling cost of £3 million.
The housing minister has also encouraged lenders to consider business opportunities with self-builders.