House hunters urged to build own properties
Thursday, 6 January 2011 3:10 PM
Housing minister Grant Shapps has this week called for Britain's aspiring self-builders to undertake more construction projects in 2011.
As part of his appeal, Shapps pledged to "break down the barriers" that have previously stopped some individuals from building their own home.
Jason Orme, editor of Homebuilding and Renovating magazine, was optimistic about the minister's promise.
"Addressing the barriers aspiring self-builders face and boosting the number of self-builds across the country will present a financially rewarding opportunity to individuals wishing to enter or re-enter the self-build market," he said.
The expert added that self-building a property can be a "smart and more affordable route" for many people trying to enter the UK housing market or create their ideal home.
Orme went on to say that self-built homes were becoming "increasingly popular" and that such projects would be further boosted by an improved choice of mortgage finance or a relaxation in lending criteria.
His view was echoed last night by comments from prime minister David Cameron, who said that banks had gone too far in restricting mortgages.
"If you are a single person, you are earning a decent salary, you go to the bank or building society - you are actually quite a good risk – [yet] they won’t give you 80 per cent of the value. They won't give you four times your salary," he said.
Cameron added: "We are working with them to try and say, look of course we don't want to see the unsustainable boom of the past, but we've got to get proper lending, respectable lending going again."
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- diy ,
- housing policy ,
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- uk property news
