UK
Housing Minister Mark Prisk announced today that
the first applications for a slice of a new £30 million self build
investment fund have been earmarked for approval, reports PropertyWire.
Speaking at a special self build workshop for local authority leaders
in London, Prisk said that the first projects would benefit from over
£1.1million to start work on up to 20 self build plots.
Following final checks and approvals, the applications in North East
Derbyshire and Peterborough will be the first to receive the funding,
which provides short term finance to help unlock projects where groups of self build homes are built at the same time.
‘Across the country, more people than ever want control over the
design and build of their home. But these types of projects have often
been held back because of limited land availability, reluctance by
lenders to provide finance and red tape. So I'm delighted that the first
self build projects in Derbyshire and Peterborough have been earmarked
for government cash,' said Prisk.
‘This money will be repaid as plots are sold, and I hope it will
demonstrate to lenders, investors and the development industry that
these types of projects are worth backing. But it's not just about
money, self builders and developers need the support of local
authorities to get these projects off the ground. So I'm pleased we have
the team from Almere to share their expertise, and I urge local
authorities to learn from their example and help more self builders
achieve their dreams,' he added.