Building your own home should be made easier
Housing minister calls for lenders to be more accepting of DIY homes
November 8, 2012
Building your own home should not be a “pie in the sky dream” for homeowners, the housing minister Mark Prisk has said. Speaking to a conference organised by the Council of Mortgage Lenders in London, he argued that much more should be done to help make building your own home a reality. He pointed out that self builds only account for about 10% of newly built houses in the UK compared with around 60% in France and Germany.
Part of the problem with encouraging self builds is that mortgage lenders see it as a niche market, and there are currently only 20 products available to those wishing to build their own home. As a result the government has established a £30 million fund to help promote self builds as a viable option. However, it is unlikely that self builds will solve the housing crisis.
Stewart Baseley, of the Home Builders Federation said: “We welcome everyone building houses. There is plenty of room on the pitch for all these balls to be kicked about. But self-build is not the solution that will solve the housing crisis.”