The Chancellor’s Budget Brought Good & Bad News

The Chancellor’s yearly budget was last week and as always, it brought both good and bad news for a number of different people all around the country.

The Government Is Providing £150m Of Funding For Self Builds

One spot of good news for those who are looking at entering the self-build market is that the Government is going to provide £150m of funding to help prospective homeowners build their own, dream properties.

New Right To Build Scheme

When announcing the details of his latest budget, George Osborne, Chancellor of the Exchequer, said that the government is consulting on a new “Right to Build” scheme. This will give custom builders the right to buy plots of land from councils which they can then use to build their own homes.

However, Yolande Barnes, researcher at Savills, a global real estate service, said that the measures announced in the Budget created “more questions than answers”. The scheme is set to include a £150m repayable fund which will help provide up to 10,000 serviced plots for custom-designed housing.

As well as this, the Government is looking to make the ‘Help to Buy’ equity loan scheme available for custom build homes too. The equity loan part of the scheme, which is offering 95% mortgages on new-build homes up to the value of £600,000, has already been extended until 2020.

This will hopefully be the catalyst when it comes to boosting the self-build market but if you’re already in the process of building your own home, why not give us a call and see what services we can offer you here at JCW Floor Screeding.