Scottish Government funding for building own home to reopen

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Scottish Government funding for building own home to reopen
Danmark Seneste Nyt,Danmark Overskrifter
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The Scottish Government said the £6 million fund is aimed at the delivery of good quality and energy efficient housing

SCOTS who want to “unlock the dream” of building their own home can apply to a government fund designed to help those who cannot get access to standard bank lending.

Kirsten, a school teacher from Shetland who has used the fund, said: “We acquired our plot of land over 20 years ago. At that point there was an old croft house on the land which we initially planned to renovate. However, several things arose to hinder our plans. Borrowers have to pay an administration fee of £895 to secure their loan, and the interest rate is 5.5%, or 9% for those in default.The fund, which is administered by the Communities Housing Trust, has seen a total of 41 loans worth £6.2m approved to date.

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