A multi million pound scheme to help people in Wales build their own homes has only offered one loan since it was launched in 2020, it has been revealed. The £40m Self-Build Wales project was launched three years ago in the hope that it would make it easier for people to build their own homes.
Through the scheme the Development Bank of Wales offers people loans on pre-arranged plots. These loans are then repayment free until the new home is mortgaged, allowing people to build their own properties. £40m was initially allocated to the project but it was expected that it would eventually boost the housing sector by £210m. You can get the latest WalesOnline newsletters e-mailed to you directly for free by signing up here.
However, North Wales Live reports that a Freedom of Information request has shown that, while thousands of enquiries have been made, only one loan has been offered since the launch and only eight applications have been made in total. In order for the scheme to work, local authorities and housing associations are supposed to make plots available with planning and site requirements complete.
