Self Builders Take Cheer

Posted on February 20, 2011 by Builder Bob There have been 0 comments

Self-Builders “Flavour of the Year”

Following the Housing Minister’s “First Time Buyer Summit” held last Tuesday, the Council Of Mortgage Lenders (CML) recognise that lending policies favour those with high deposits.  That is to say, those that only require a relatively lower percentage mortgage advance.

Risk Averse Ratio’s

Blaming today’s’ risk averse regulatory environment’ they point out that to make a 90% mortgage requires them to hold six to eight times more capital than for a 60% mortgage.

Incredibly CML goes so far as to say the “Government needs to consider and understand these drivers … “ if it wants to find any solution to the problem.  They obviously think that the Government is not yet up to speed – or maybe even up tom the task.

Better for Self Builders

However, while the CML, national house builders, the HBF (their representative body) and others squat around having ‘summit’ and other cosy chats, those Self Builders who are cashing in their present house to provide them with a really decent deposit before embarking on the immensely rewarding and profitable Self-Build quest are in a better position, are sitting in the pound seats, so to speak.

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