Scottish government

New £4m self-build loan fund opens in Scotland

The Scottish government has announced that a £4m fund has been opened to support people across the country who want to build their own homes.

The fund has been launched following a successful pilot in the Highlands and is now open for applications.

Loans are available for eligible urban and rural self-builders who are unable to access standard bank lending to support build completion, allowing access to a traditional mortgage which is used to repay the loan.

Kevin Stewart, housing minister, said that he wanted to see people across Scotland apply and make full use of the fund.

“We know that people are interested in building their own homes and in some cases it is the best way for families to tailor their homes to their needs. 

“However, we also know that it can be tough to secure funding and get the right advice, which is why we set up the self-build loan fund to help those that need to access finance.”

The Highland Small Communities Housing Trust (HSCHT) ran the pilot and will administer the fund on behalf of the Scottish government.

Ronnie MacRae, chief executive at HSCHT, said it was delighted to have been confirmed as agent for the self-build loan fund.

“The [self-build loan fund] sitting alongside the many other positive Scottish government initiatives – such as the rural and islands housing funds, Scottish land fund and other initiatives that HSCHT can facilitate – provides communities with the tools to ensure they remain sustainable by providing a range of housing options.

"While not yet back to where it was, self-/custom-build is again a growing market and we're excited to be working with Scottish government and a range of partners to ensure that this remains the case and self-/custom-build goes from strength to strength as a housing option."

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