Strong appetite to self-build a new home

Almost one in three people - 30% - in the UK would consider building their own home within the next five years if the appropriate mortgage finance was made available, according to fresh research by Norwich & Peterborough (N&P).

The research also shows that 12% of people surveyed said that they would consider undertaking a self build project within the next 12 months.

The study also showed that the main attraction to carrying out a self-build was to construct a new home suited a person's individual needs.

Richard Barker, N&P's mortgage manager Richard Barker, said: "This research proves that people are genuinely interested in building their own home, if they can get the right products to help them.

Housing minister Grant Shapps last month called on mortgage providers to help start a self-build movement in the UK by lending more to people who want to construct their own homes.

It is estimated that up to 20,000 people build their own homes in the UK each year, representing one of the lowest proportions of new homes built by self-builders in Europe. But Mr Shapps wants to see the self build industry become a mainstream housing option.

He recently said: "Self builders deliver affordable, greener and more innovatively-designed homes, and make a big contribution to the number of new homes built in this country. But there is still significant opportunity for growth in the sector which can only be opened up if government and industry work together.

"Government is already taking significant steps to make self build not only more attractive but also more accessible. But I pledge to continue pushing for further action to make self-build an easier option for everyone."