If you are from Scotland, or if you are thinking about permanently moving in and making your home is the Highlands area, we have great news for you! The Scottish government has established a £4 million budget for a Highland Self-Build Loans. The fund has been launched earlier this year and it offers opportunities for people to build their own homes across the region.
What Is This All About?
If it sounds too good to be true, you might be wondering what is this all about? Why would the Scottish government get that amount of money to the people of Scotland? Especially if we mentioned that the original funding has now been increased from £150,000 to £175,000! The idea is that the loans will help bring people back to the Highland area and generate growth in the self-build sector once again. In addition to that, we should also mention that the fund will probably increase economic activity in the area which will benefit everyone.
Where Can I Apply?
In case that you are interested in applying for this program and contributing to the growth of the Highlands area, you may be wondering how you can apply for this loan. Since recently all applications are being accepted by The Highlands Small Communities Housing Trust, which is also administering the scheme. So, how can this be a good thing?
How Will The Fund Benefit Scotland?
It is expected that the fund will increase economic activity in the area as well as provide financial assistance to people who have been unable to make any progress with their self-build projects. The Housing Minister Kevin Stewart explained that the self-built loan fund is an important opportunity for everyone who is experiencing difficulties when building their own home. He also explained that the original plan had been increased and it has been found that £150,000 is still restricted for people to make and build their own homes. The pilots will be monitored over two-year lifespan, but overall the project is expected to be very successful.
More Homes Scotland
This is not the first such project for funding homes in Scotland. In fact, this loan fund is a part of More Homes Scotland, the project which supports families across Scotland to get on the housing ladder. The government is determined to help people get their own homes and start their own lives. The government is also interested in projects that will breathe in life in the smaller rural communities where new build housing is pretty scarce at the moment. This project is just a small piece of a big puzzle, but it will definitely help people situate in Scotland and it is an important strategy for preventing outward migration from Scotland. This strategy is expected to boost employment as well as population in rural areas in Scotland, but also all across Scotland as well.