Saturday, June 18, 2011
Another one for you-know-who
Mortgage providers should lend more money to people who want to build their own homes and spark a "self-build revolution", the Government says. Housing minister Grant Shapps says he also wants to change the image of self-building as the preserve of the country rich. Around 15,000 self-build homes are constructed in Britain each year - but the industry in the UK is still one of the smallest in Europe. The National Self-Build Association (NaSBA) says it costs around Â£150,000 to self-build an average four-bedroom house. It is probably worth Â£250,000 as soon as it's finished. But some financial experts remain unconvinced. "There's no way you can go to places like London or Surrey and build an affordable home if you can't afford the land in the first place, and this will not change anything."