East of England building society Saffron has backed the government’s £30 million funding scheme in order to boost self-build projects.
In May, housing minister Grant Schapps launched the scheme to unlock short-term funding to self-build projects.
According to chief executive Jon Hall, Saffron has already loaned £40 million for similar projects since 2011, which makes up around 14 per cent of its new lending.
Hall added that it would continue to provide funds for self-builds.
He said: “We support the Government’s initiative to increase funding to this sector, and hope that with this and a joint effort from lenders, the self-building community can thrive.
“We have backed the self-build community for some time now. At a time when property prices are out of reach for many, self-build gives our customers another option of getting on the housing ladder.”
