Self Build – Wales is a scheme to assist people with the funding to build their own home. Applications for the scheme will open in mid-2019. Self Build – Wales will be administered by the Development Bank of Wales.

Scheme overview

  • Applicants will be able to see all plots that are ready for applications on an interactive map of Wales. The map will also contain information about plots being prepared for the scheme. Applicants will be able to register to receive notifications about when sites being prepared are ready.
  • Each plot on the map will have a ‘plot passport’, which will contain information about the plot, including:
    • price of the plot
    • Planning
    • approved property designs
    • estimated build costs
    • application process.
  • Successful applicants will only need to provide a deposit of 25% of the cost of the plot. The Development Bank of Wales will provide (subject to qualifying criteria) a self-build development loan to cover the balance of the plot (75%) and the full cost of building the property.
  • Loans will be payable to the appointed builder in stages following an ongoing evaluation of the progress of the build.
  • Interest and fees on the loans will only be charged on the loan payments made at each stage.
  • The maximum term of the loan is 2 years.
  • Applicants won’t have to make any repayments on the loan until the property is completed and mortgaged.
  • Applicants will not be able to rent or sell the self-build home for a minimum of 5 years from the completion date.
  • The completed self-build must also be the applicant’s only property.
  • An applicant will be able to apply for up to 5 sites, but will only be offered one plot.
  • If a plot is successfully obtained through the scheme, applicants will not be able to apply for another plot in the future.

Site plots will be available to everyone, not just first time buyers. Self Build – Wales is designed to suit as many needs as possible, including those that need a bigger house, are looking to downsize but stay in their area or are looking for an adapted home. Where there are multiple applications for plots, each application will be assessed and scored by the relevant local authority based on their priorities for the area. These priorities will be detailed in the plot passports.

Self-build loans provided by the Development Bank of Wales can only be provided to successful applications for plots through the Self Build – Wales scheme.

The plot passports will detail the approved property designs and the permissible changes which can be made. Any requests for design changes will be at the discretion of the relevant local authority and to the cost of the applicant.