13 Mar 2015, 5:23 pm
The UK government's 'custom build serviced plots loan fund' (25-page / 473 KB PDF) was introduced last June to provide developers, builders, contractors and other private bodies with repayable loans to finance infrastructure works up to the boundaries of plots of land. The fund is intended to provide sites on which individuals can build or commission their own custom-built homes.
Housing minister Brandon Lewis announced on Thursday that the next phase of the fund was open to bids from partnerships between councils and developers, where the council has less than a 50% interest.
Lewis also announced the first three schemes to be shortlisted to receive loans under the scheme. He said three small builders in St Helens, South Norfolk and West Lindsey had reached "the next stage of assessment" and would together receive nearly £860,000 towards the delivery of 41 serviced plots on successful completion of the assessment process.
The final reading of the Self Build and Custom Housebuilding Bill took place in the House of Lords on Wednesday. The Bill, which will require councils to maintain a register of those who have expressed an interest in buying serviced plots, is expected to receive royal assent later this month.