Dudley Building Society has revealed it it is targeting tomorrow’s Right to Build Day (30 October) to draw adviser attention to the importance of the self-build sector as a growing source of new business.

The intermediary focused specialist lender, which relaunched its self-build product range in September, also highlighted that difficulties still exist for potential self-builders

Right to Build Day was established in 2019 to highlight how successful local authorities have been in granting planning permission for those who have applied following registration to the Right to Build Register.

Dudley stated that more than half of all local planning authorities now have or are planning to adopt local plan policies, to support custom and self-build housing delivery.

“Whilst self-build is not new, it has taken government action to incentivise local authorities to acknowledge and log genuine interest from the public and also to have set aside plots of land to match the aspirations of self-builders,” said Dudley commercial director, Sam Ward.

“We lag a long way behind our European counterparts in respect of new property that is self-built – only 8% of new housing stock in the UK, while the Netherlands claims 30% and Austria up to 80%.”

The society noted that UK self-build numbers are rising but suggested Right to Build Day will indicate whether local authorities have managed to meet their obligations for those who have registered interest since last year.

Ward added: “As a building society, Dudley started out as an institution dedicated to providing finance for people wishing to build their own homes. In 2020, our latest range of self-build products reinforces our support for the current generation wishing to do the same.

“Advisers have a great opportunity to build a new client bank looking for advice for this type of funding and Dudley is here to provide the means.”

Share Story: