Paying builder best method

ECO_Mental

Hi


Getting my first stage payment done and I was just going to do a simple bank transfer but then found out I can only do at most 10k on-the-line. What method did you guys use.


Get a bankers draft, write a cheque (I don't have a cheque book) or is there an easier method of doing a large bank transfer.



I can use either PTSB and BOI



Thanks

seamus

You can usually do a larger transfer in-branch, or if you kick up a big enough stink on the phone they'll put the bigger one through for you.

wildwillow

You can do it over a few days.. Most builders will accept that. Saves the bother of going to the bank.

splashthecash

ECO_Mental wrote: »

Hi


Getting my first stage payment done and I was just going to do a simple bank transfer but then found out I can only do at most 10k on-the-line. What method did you guys use.


Get a bankers draft, write a cheque (I don't have a cheque book) or is there an easier method of doing a large bank transfer.



I can use either PTSB and BOI



Thanks

Albeit that I'm not doing a full build from scratch (we are doing an extension), what is the standard in terms of payment to builders - is there a chunk (10\20%) paid up front to allow him get started and buy materials and then additional payments done every week or couple of weeks to keep things ticking on?

ECO_Mental

splashthecash wrote: »

Albeit that I'm not doing a full build from scratch (we are doing an extension), what is the standard in terms of payment to builders - is there a chunk (10\20%) paid up front to allow him get started and buy materials and then additional payments done every week or couple of weeks to keep things ticking on?

I'm doing a full house build with a BOQ, so no paying him in advance and I would be very dubious on this anyway.

With my builder he submits a valuation on work done e.g 50% of foundation based on the BOQ price. The engineer certifies it, send it on to the bank wait about 8 weeks after they make you jump through a few more hoops and then you pay him. I am after only one payment but he said hes going to do a valuation every 2 months so 6 payments in total (12 month build)