Self-build mortgages set to rocket 141% in three years

Self-build mortgages are expected to rocket 141% over the next three years, according to a report by the National Self-build Association.

The report comes alongside a string of announcements by housing minister Grant Shapps to boost the sector.

Shapps pledged to double the sector with better engagement with lenders after 14,000 self-build homes were built in 2011 representing 10% of all homes built.

Shapps says: “Our self-build industry still lags behind much of the rest of the world, with the opportunity to build your own home seen as something only for a select few.

“That’s why today, I’m pledging to back the self-build boom and support the industry to double in size over the next few years. As well as a new website giving help and advice, we’re working hard to identify more land for development and have reformed the planning rules to stop people’s aspirations getting tangled in red tape.

“This package of measures is designed to ensure anyone looking to build their own home gets the support they need.”

NaSBA, says more than half the UK population would like to one day build their own homes.