Build your own home scheme offers a loan grant

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Falkirk area residents who fancy building their own homes can now apply for a grant from a new self-build loan fund, following a successful pilot scheme.

The Highland Small Communities Housing Trust will administer the £4 million scheme across the country.

The scheme was developed in their area because while self-build has traditionally been more common in rural locations - and is sometimes the only source of housing supply - it has become increasingly difficult to obtain self-build mortgages.

But the fund applies to town sites too.

Loans are available urban as well as rural self-builders who are unable to access standard bank lending to support build completion, allowing access to a traditional mortgage which is used to repay loan.

Housing Minister Kevin Stewart said: “We know that people are interested in building their own homes and in some cases, it is the best way for families to tailor their homes to their needs.

“However we also know that it can be tough to secure funding and get the right advice, which is why we set up the self-build loan fund to help those that need to access finance.

The Trust’s chief executive, Ronnie MacRae said: “We are sure this will be a key fund for Scotland.

“The fund, sitting alongside the many other positive Scottish Government initiatives such as the Rural and Islands Housing Funds, Scottish Land Fund and other initiatives that HSCHT can facilitate, provide communities with the tools to ensure they remain sustainable by providing a range of housing options.

“Whilst not yet back to where it was self/custom-build is again a growing market and we’re excited to be working with Scottish Government and a range of partners to ensure that this remains the case.”