Following a pilot scheme in the Highland Council area, the Scottish Government have announced that they are to launch a nationwide Self-Build Loan Fund in 2018.
Currently the Highland Self-Build Loan fund is available to those in the council area that:
- are looking to build a home for themselves to live in permanently (holiday homes and properties for rent are excluded)
- own or identified a plot of land
- have build costs of £175,000 or less
The £4m fund is an ‘enabling’ fund providing financial backing to those wanting to build their own home that would otherwise struggle to secure a Self-Build Mortgage and is due to be open for applications from Autumn 2018 and will run for 3 years.