Self builders to have access to new loan fund
The Highlands Small Communities Housing Trust has been appointed to administer a new fund established by the Scottish Government to support and encourage people to build their own homes.
The Highlands Small Communities Housing Trust has been appointed to administer a new fund established by the Scottish Government to support and encourage people to build their own homes.
The Self Build Loan Fund is open to applicants who have been unable to secure mainstream self build mortgage finance, but who will be able to obtain a mortgage upon completion of their home.
The purpose of the fund is to provide loans up to £175,000 to fund the construction phase, with the loan together with interest repaid upon completion. Payments are drawn down at key stages during the build. The loan is secured against the house plot and because of this, the house plot needs to be in the ownership of the applicant.
The fund will help self builders, especially those who have started their build but who find themselves with cash-flow difficulties.
Self build provides a great opportunity to design and deliver a home that meets your needs and the fund will seek to assist wherever possible.
Further details can be obtained by contacting the Highlands Small Communities Housing Trust: selfbuild@hscht.co.uk