Self Build Loan Fund Extended for Five Years

View of Anstruther from the harbour
Alan Robertson

The Scottish Government funded Self Build Loan Fund will be extended for an additional five years and will reopen in autumn 2022 following the appointment of a Fund administrator.

The current Self Build Loan Fund is due to close to applications on 31 August 2022. However, the fund will continue to offer short-term loans of up to £175,000 to assist with development costs relating to self-build projects for people unable to access mainstream self-build finance.

In September 2018 the Scottish Government provided a time limited fund to assist self or custom builders finance the construction period for their new home. The Community Housing Trust administers the fund on behalf of the Scottish Government. 

Initially the fund was due to close in March 2021 however due to the impacts of COVID-19 the fund was extended for another year and an additional £2 million allocated to the funding pot. 

The fund is open to applications from individuals who have been unable to obtain mainstream self-build mortgage finance, but who will be able to repay the loan by 31 August 2023. The maximum loan available stands at £175,000.

Since the launch of the scheme around 40 families and individuals have built their own homes in 13 Local Authority areas: Aberdeenshire, Argyll & Bute, East Ayrshire, North Ayrshire, Falkirk, Highland, South Lanarkshire, Orkney, Perth & Kinross, Scottish Borders, Shetland, Stirling and the Western Isles, with more on the way. There are some great examples from homeowners who have accessed the fund to build their home at the CHS website, check their Self Build Stories page for details.