self build costs for mortgage application

user37

Hi, i'm about to apply for a mortgage for a self build. the bank requires detailed costing and an insureance cert.
Can i get this from a builder or do i have to go to an engineer???
i am planning on only applying for a small morgage as i'm going the direct labour route and family will be helping out with the build.

bruschi

user37 wrote: »

Hi, i'm about to apply for a mortgage for a self build. the bank requires detailed costing and an insureance cert.
Can i get this from a builder or do i have to go to an engineer???
i am planning on only applying for a small morgage as i'm going the direct labour route and family will be helping out with the build.

no, you go to a Quantity Surveyor who will do up a schedule of works involved and price them accordingly. should cost somewhere from €300-500 depending on the size and complexity of it.

for this, you will need detailed drawings from your architect and/or engineer for the QS to be able to price it for you.

muffler

user37 wrote: »

Hi, i'm about to apply for a mortgage for a self build. the bank requires detailed costing and an insureance cert.
Can i get this from a builder or do i have to go to an engineer???
i am planning on only applying for a small morgage as i'm going the direct labour route and family will be helping out with the build.

As you're going down the direct labour route a builders estimate wont be acceptable. Get in touch with your architect/engineer/technician.

I assume the insurance cert you refer to is the PI held by your arch/eng/tchn.

bruschi

muffler wrote: »

As you're going down the direct labour route a builders estimate wont be acceptable. Get in touch with your architect/engineer/technician.

I assume the insurance cert you refer to is the PI held by your arch/eng/tchn.

you would need standard building insurance when doing the construction by self build. can cost anywhere from €1,000 up depending on the size and nature of the job. most insurance brokers can give this to people going this route.

kkelliher

user37 wrote: »

Hi, i'm about to apply for a mortgage for a self build. the bank requires detailed costing and an insureance cert.
Can i get this from a builder or do i have to go to an engineer???
i am planning on only applying for a small morgage as i'm going the direct labour route and family will be helping out with the build.

Detailed costing by a Quantity Surveyor with Professional Indemnity Insurance is the only thing that most banks are now requiring for this type of build.

Be careful with your budget and the preception of "family helping out with the build". Material costs are rising all the time despite what people believe and the largest part of the cost is in the finishes, mechanical and electrical.

SBR

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