10% of new homes in the UK are self-built

One in 10 new homes in the UK are self-built and the market generates £3 billion annually for the UK economy, according to a report by the Building Societies Association (BSA). The BSA has published a toolkit to provide information to encourage lenders not yet in the self-build market to offer this type of finance. An estimated 13,800 self-build homes we completed in 2010/11 and 100,000 people subscribed to one of the main plot-finding websites. The UK Government says that it is committed to its housing strategy for England to work with industry with the aim of doubling this sector over the next ten years. They say that this would potentially add 100,000 homes to help fill the housing gap and support up to 50,000 jobs directly and indirectly per year - taking self-build mainstream. Mutual lenders are leading the way in providing mortgages for those who want to build their own homes, with 20 plus building societies already providing this kind of mortgage finance. Housing Minister, Grant Shapps MP, said: "Self builders built more homes last year than many of the major developers in this country.  But I want to see more of this, see the industry fulfil its potential and double in size to ensure anyone wanting to build their own home has access to the help and information they need." May 18, 2012