Help to Build: making building your own home more affordable

Author

sarah brooke-taylor

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A new government equity loan available to people in England who want to self build or custom build their own home.

Custom and self build homes are not just for people who have owned or built a home before.
Help to Build can make building your own home a realistic choice, even if you have a small deposit.
A custom or self build home means that you can decide on the:
• design – building in features that suit your lifestyle, such as energy efficiency and smart technology
• internal layout – designing a home that will suit your family’s specific needs
• location – homes can often be the size and scale you want, built on smaller plots of land available for development in the area you
want to live.

Applications will open for Help to Build: Equity Loan during Winter 2021/2022.

How Help to Build works
With Help to Build, you can be offered an equity loan based on the estimated costs to buy a plot of land and build the home.
The equity loan amount can be between 5% to 20% (up to 40% in London) of the total estimated cost.
If eligible, you can spend up to £600,000 on your new home. This must include the cost of the land if you don’t already own it, and no more than £400,000 on the cost to build it.
If offered an equity loan, you’ll have 3 years to buy the land (if needed) and build your home.
You’ll need a deposit of at least 5%, and a self build mortgage to pay for the land and build phase.