BuildStore calls for more self-build funding

BuildStore is calling for lenders to provide more funding for self-build as the government lends support to the idea that more self-build land should be made available.

The Office of Fair Trading first recommended that publicly-owned land should be used for self-build purposes back in September last year.

The latest report from the Department for Business Enterprise and Regulatory Reform, the government’s official response to the OFT recommendations, has now also lent support to the plans.

BuildStore has seen the number of self-build enquiries rise 30% year-on-year during Q1 and wants more funding from lenders to help meet the demand.

Raymond Connor, chief executive of BuildStore, says: “With more people considering self-build as an alternative way to climb the property ladder, this government support comes at an important time for the housing market.

“Self-build is now a viable and realistic option and in order for self-builders to take advantage of such self-build schemes, further investment in self-build lending is needed.”