Build Now, Pay Later

GreenBee_2

My one big ambition is to build a great big green house - a 4 bed eco friendly place with fewer energy bills, it won't be green at all, probably more of a typical brick looking colour.

One of the papers had a story today about something called 'Build Now Pay Later' alongside the government saying that they are trying to get us all to build more of our own houses.

Does anyone know:

1. How this 'build-now-pay-later' scheme really works?
2. Where can I put my name down for a plot of land that qualifies?
3. How mortgage lenders will rate this scheme for lending evaluation?

Thank you

ACG

http://www.communities.gov.uk/documents/housing/pdf/2055143.pdf
http://www.out-law.com/en/articles/2011/december/government-has-published-details-on-the-build-now-pay-later-scheme/

Ive not heard of it, but i was interested so have done a quick search. It would seem its for bigger land areas which are maybe not in condition to be built on without some investment?
Does that look similar to what you read?

GreenBee_2

Thanks for the reply and the helpful links.

I read about it in the Torygraph


telegraph.co.uk/property/propertynews/8979830/13000-people-build-their-own-homes-in-a-year.html[/url]

"...the housing minister, wants the number of self or custom-built homes to double over the next decade. Under plans to be unveiled next month, as much as £30 million will be lent to self-builders to help support the growing market.....

"Public sector land is expected to be made available for those wishing to design and build their own properties."