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.
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Ifan Glyn, senior director at the Federation of Master Builders Cymru, said: “The Self-Build Wales scheme is a brilliant and innovative concept, and we had high hopes that it would offer people a much-needed alternative route to home-ownership. However, to date, it’s fair to say that the scheme has failed to live up to expectations. Interest from the public and the house building sector has remained consistently strong, but there hasn’t been enough land made available to create these self-build plots.
"Some of this is down to market forces, but I must say that I have been left disappointed that several local authorities have failed to engage with the scheme, which has left huge swathes of the country devoid of any plots. I would urge these authorities to reconsider their position and to come to the table to discuss what we can do together to kick-start the scheme. We’re in the midst of a housing crisis; we can’t afford to turn our backs on schemes that create homes.”
A Welsh Government spokesperson said: “Despite the pandemic impacting progress of Self Build Wales, demand for the scheme remains high with more than 2,200 site specific expressions of interest and 3,350 non-site specific registrations of interest to date. We are working with local authorities, registered social landlords and others to encourage them to provide land for inclusion in the scheme and have also included private landowners to increase the provision of sites.”
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