NaCSBA – the National Custom and Self Build Association has confirmed that 33,000 individuals have signed up to the Right to Build registers, an 80% increase on 2016’s figures. This increase will bring more self and custom build opportunities your way!
The Right to Build legislation is part of the Government’s commitment to fix the broken housing market, by granting a right to all qualifying citizens in England to register their desire to buy a serviced plot, with a view to building or commissioning their own home.
Local Authorities have a duty to keep a register and must grant sufficient planning permissions to provide plots to meet the level of demand on that register within a 3 year period.
Between 1st April and 31st October in 2016, around 18,000 people registered. This figure will need to be matched by 31st October 2019, with a further 15,000 people requiring consent by October 2020. The figures will continue to grow over time as awareness increases.
The Government’s objective is to ensure that self and custom build accounts for around 30% of new housing in England, which will dramatically increase the likelihood of your receiving enquiries of this type.
BuildLoan has 100% focus on this specialist area and is dedicated to helping intermediaries with enquiries for self and custom build, renovations and conversions or home improvements. Intermediaries can access exclusive mortgage products along with expert advice and guidance, every step of the way.
Follow the links below to find out more:-
BuildLoan will be holding a series of roadshows in 2018, free to attend and packed with useful information that will really help you to generate more business. You will learn about the additional considerations when it comes to this type of specialist finance, to ensure the best outcome for clients and be able to write business in a professional compliant manner.
The opportunities are coming down the line, make sure you’re ready for them!