Vision

Affordable Self Build

Vision delivers fully serviced affordable self build plots providing a route to home ownership for those seeking to build their own home with the necessary skills.

Plots are provided at a 20% discount to market value complete with required infrastructure and a range of options which the developer can deliver at a fixed price for those requiring additional support.

Working alongside a panel of lenders applicants with a local connection can fund and build a home in their community for their future.

What is Vision?

We are an organisation that levers in institutional investment to deliver high-quality affordable self-build plots in communities people feel part of and committed to.

  • Fully serviced plots
  • Designated for people who aspire to build their own home
  • Primarily 3 bedroom detached housing, with scope to extend into the loft space. Generally integrated within a wider scheme which also contains family homes, rather than purely a self-build site
  • Discounted by 20% to market plot values for people with a local connection
  • Spacious enough to give the flexibility for a growing family
Context

Self Build provides a route into home ownership for individuals and groups who want to play a role in building their own homes.

Since 2016 Local Authorities have to keep a register of aspiring self-build and custom house builders then planning for future housing and land use.

Only 7% of completions (c.12,000 units) in the UK accounted for self builds, whilst in some European countries, this figure is as high as 80% (Austria).

A survey carried out by the Building Societies Association found 53% of respondents would consider building their own if they had the opportunity.

Barriers
– Land supply and procurement
– Access to finance and availability of mortgage lenders in the market
– Perceived risk and lack of knowledge regarding planning process, legal agreements, costs of incoming services, etc.

Vision: How does it work?

Fund

Sites funded and infrastructure delivered by institutional investors

Build

Sites divided into self build plots and houses built to building regulations and compliant with the plot passport

Open Market

For purchasers who are able to purchase outright.

Discounted Plots

Affordable self build plots would be sold at a 20% discount on open market value

Allocations

An allocations policy giving priority to those with a local connection would be agreed with the LPA and Parish Council

Funding

A self build lender or broker would work with prospective purchasers to ensure mortgage availability prior to any allocation

Plot Passport

A ‘Plot Passport’ would be provided for every buyer detailing the rules and guidelines of the build. An example of these can be seen for the Graven Hill self build scheme at Bicester comprising 1,900 units.
How will it assist LA's & NPG's?

Support community land trust (CLT’s) to piggy-back off of the infrastructure already delivered.

Helps deliver homes which meet the identified needs of local people in line with strategies and planning policies.

Assist LAs, parishes and Neighbourhood Planning Groups. To identify where there is a housing need, what the need is and provide advice support and assist with delivery.

Fund homes in rural communities which may otherwise not be delivered

Provide certainty in terms of delivery over the plan period in rural areas.

Case Study

C and S are 26 and 28, they grew up in Newton Ferrers, South Devon and were both living with C’s parents. C was heavily pregnant and both wanted to remain in the community they both grew up in. They thought the only way they could afford to achieve this would mean that they would have to build their own self-build home.

They registered on the local authority’s self build housing waiting list. With Vision, purchasers pay an affordable plot price – 80% of market – giving C and S the opportunity to save significantly versus market prices. This then enabled C and S’s deposit to be used directly in the cost of build.

They have the opportunity to buy their plot with the infrastructure and services already installed and the plot bought up to DPC should they wish.

Their new plot came with a plot passport which provided the guidelines for their build and allowed the flexibility for the internal layout.

They love their new home and living close to family and friends.

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