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Small extension

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  • 06-03-2021 7:15am
    #1
    The chan chan man
    Registered Users Posts: 824 ✭✭✭


    Hi there,

    Hopefully someone can give me a steer. I’m wondering:

    1. If i remortgage to get an extra 70k to cover refurbishments/small extension/new kitchen, do i have to get the extension signed off in stages to draw the money from the bank?

    2. The extension itself is probably only 30k in total. Do people normally pay builders such amounts in cash/cheque or does something like this always go through the books? If you can pay cash, how would that work with stage payments from the bank?

    Thanks


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  • Options
    #2
    DOCARCH
    Moderators, Home & Garden Moderators, Science, Health & Environment Moderators Posts: 17,701 Mod ✭✭✭✭DOCARCH


    Mod Note: Always through the books. We abide by the law on this forum and discussion how to go about circumventing same is not permitted.


  • Options
    #3
    Gumbo
    Moderators, Society & Culture Moderators Posts: 38,438 Mod ✭✭✭✭Gumbo


    The chan chan man wrote: »
    Hi there,

    Hopefully someone can give me a steer. I’m wondering:

    1. If i remortgage to get an extra 70k to cover refurbishments/small extension/new kitchen, do i have to get the extension signed off in stages to draw the money from the bank?

    2. The extension itself is probably only 30k in total. Do people normally pay builders such amounts in cash/cheque or does something like this always go through the books? If you can pay cash, how would that work with stage payments from the bank?

    Thanks

    Yes is the short answer.
    You also have to provide costings for the project that are signed off by the engineer/architect/surveyor.


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