Cherwell District Council has launched a scheme to help residents finance mortgages on self-build homes. The council, working with a panel of lenders, will indemnify up to 20% of each mortgage, with borrowers only needing to find a 5% deposit. Barry Wood, leader of the council, said: “We’re aware that lots of people love the dream of building their own home, but can find the up-front costs off-putting. The pilot scheme will make it easier for people to build their own home without needing vast sums set aside to cover building costs.”
Reports
Most read in
- IFRS 9 override extended to 2029 for existing investments(37 views)
- Richard Harbord: section 114 was never meant for today’s crisis(24 views)
- After EFS: Worcestershire s151 Phil Rook on the uncertain road to financial resilience(24 views)
- New: LGPS regional investment special report(20 views)
- Westminster borrows £235m over 42 years to acquire temporary accommodation – an ‘innovative’ solution or should government do more?(20 views)
- ‘Golden opportunity to turn ship around’ must not be squandered in Spending Review, say London boroughs(18 views)
- The rise of the senior LGPS officer: how will the new role impact funds?(17 views)
- Room151 LGPS podcast: investing in venture capital climate solutions(16 views)
- The government’s push to merge pools lacks transparency(16 views)
- Conrad Hall: what next for local authority funding?(14 views)
More from
Conrad Hall: a central/local tension is the cause of the financial crisis – not funding
The local government financial crisis has not been caused by a lack of funding: that’s just a symptom of the inherent conflict of having independent local authorities within a highly centralised state, argues Conrad Hall.
(Shutterstock)