Question reference: S6W-26171
- Asked by: Rachael Hamilton, MSP for Ettrick, Roxburgh and Berwickshire, Scottish Conservative and Unionist Party
- Date lodged: 8 April 2024
-
Current status: Answered by Paul McLennan on 29 April 2024
Question
To ask the Scottish Government whether it will consider expanding the Self-Build Loan Fund to all applicants in rural areas, other than just those who are unable to access standard bank lending, to help increase the number of homes that are available in non-urban settings.
Answer
The Self-Build Loan Fund (“the Fund”) offers short-term loan funding of up to £175,000 to self-builders who are unable to access standard bank lending, to assist with development costs to support build completion. The Fund is not intended to replace market lending and provides short-term loan funding to borrowers who have exhausted finding alternative market options. The focus is on supporting projects with the necessary consents in place to allow work to commence quickly, and already delivers genuinely additional new homes primarily but not exclusively in rural areas.