What is everyones thoughts on this? Bit of a game changer for the self build sector, do we all agree?
@daddo1600
2 жыл бұрын
If I am already in a house but want to build a house to move into it as my primary residence am I eligible? I would look to sell my current home once the new build is complete.
@Mucless
2 жыл бұрын
This sounds like a great oportunity for first time buyers/builders , do you think will be for a long time or short time offer from the gov?
@Progressfs
2 жыл бұрын
I think the scheme will be available for a few years at least, possibly more if it works and proves popular
@joycekioma9167
Жыл бұрын
Hey Can we have a updated video on self builds scheme please
@MrSilencer16
5 ай бұрын
do you need 5% for the total build this including the land you buy and to build the house?
@tayoakinboaji1160
2 жыл бұрын
a major issue will be how to get a self build mortgage if the land you intend to purchase is without planning permisssion. Can you advise what can be done in this scenario?, as most land seems to be without planning.
@Progressfs
2 жыл бұрын
You will need to get outline planning before you apply for any mortgage, without it you won’t get the mortgage
@LJV3NOM
2 жыл бұрын
Will be HTB grant also contribute to this? Would it qualify for the bonus?
@Progressfs
2 жыл бұрын
If you mean the help to buy ISA then yes
@conconmc
Жыл бұрын
What happens if the project overspends?
@dval2437
2 жыл бұрын
The only drawback that i can see is that it's not a Loan, but the government will own 20% equity. So once youve built it and refinance at a higher property market value (since cost to build is usually lower), you might own the government more than you borrowed?
@jon-louispierre6663
2 жыл бұрын
I thought this too - wouldn’t a way around this be to pay off the equity before refinancing/remortgaging? Is that possible? I’m a newcomer to the self build world so apologies if this comes across as a bit naive
@Progressfs
2 жыл бұрын
Yes but that also means your share has gone up also
@stephendudgeon5259
2 жыл бұрын
Is this available in Northern Ireland as well?
@Progressfs
2 жыл бұрын
I don’t think so
@PeterSmith-kj1vr
2 жыл бұрын
What about buying a place at auction ie a disused london garage? How would this work
@Progressfs
2 жыл бұрын
Buying at auction has great risk of buying with a mortgage, best to get finance sorted before hand perhaps a bridging loan
@antnam4406
2 жыл бұрын
They just announced it!
@andredeoliveira4125
2 жыл бұрын
Thank you.. great content. Keep Up
@benterry2681
2 жыл бұрын
It’s a scam. You borrow money and owe based on the final house value, not based on the money you borrow. If you borrow 400k and the house is worth 600k then you owe 600k.
@Progressfs
2 жыл бұрын
You clearly don’t fully understand this if you think it’s a scam. It’s an equity share scheme, so you want to to owe them more. As if their 20% goes up it means your 80% goes up
@daddo1600
2 жыл бұрын
If the house is worth 600k once built the gov own 20% of that valuation.
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