Laura Sharman 13 March 2018

Council to offer mortgages for self-build homes

Council to offer mortgages for self-build homes

Local people looking to build their own homes will be offered an accessible mortgage under a new pilot scheme launched by Cherwell District Council.

The scheme - thought to be the first of its kind in the UK - will see the council indemnifying up to 20% of each mortgage.

The finance will be available for those applying for mortgages on homes at Graven Hill in Bicester, the UK’s largest self and custom build site.

Council leader, cllr Barry Wood, said: ‘I’m proud that we are exploring a way to offer our own residents and people who work in Cherwell this innovative solution.

'The pilot scheme will make it easier for people to build their own home without needing vast sums set aside to cover building costs.’

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