First Custom Build scheme approved
The UK's first Custom Build site has been approved by the Homes and Communities Agency (HCA), with residents in Morton, Derbyshire being offered the chance to buy land for bespoke property developments.
An exhibition explaining the premise behind the programme is set to take place on Saturday (February 16th) and will include details of how interested parties can get involved.
A total of £30 million in funding has been made available by the HCA for the project, which will enable members of the public to purchase land at the site for £78,000 and then be given access to short-term finance for the construction of their own home.
Sarah Coutts, area manager at the HCA, said: "It is great to see how our investment will make such a change for local people. This project from Fairgrove Homes will allow local people to own the home of their dreams at a price they can afford.
"As the homes are sold, the loan will be repaid to the HCA to allow even more people take up this opportunity."
Steve Midgley, managing director at Fairgrove Homes, added that the organisation is "delighted" to be the first in the UK to offer such an innovative new method for home purchase, giving people the chance to design their own property and to make savings at the same time.
The news follows recent comments from Steve Turner, a spokesperson for the Home Building Federation, who argued that self-build could be the way forward in helping the government to tackle the ongoing housing crisis that is being witnessed across the UK at present.
He added that in recent years, the majority of self-build projects being carried out across the country have been by wealthier individuals on greenbelt land, whereas a shift towards more urban brownfield developments could now be taking place.
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