Thedreamer

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Thedreamer last won the day on November 6 2018

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About Thedreamer

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  1. Thedreamer

    Self build vs Contractor - ball park saving?

    I doubt you would need to give up the day job if going down the project manager route. Most of your work will be in the design, finance and getting the remaining paper out the way. Big advantage if your 3 minutes away. I'm project managing my self build on Skye. Usually when there is activity on site the routine is: Go down in the morning speak with the various contractors and then in the evening check the work/research next step. During your lunch hour, order materials/pay bills. Book annual leave for the landmark days and when all hands are needed on desk (fitting windows etc) Have you consider using a surveyor to carry out inspections and provide certificates to your lender? Might be harder in London, but if you can find a good contractor you can trust, they might have other trades they work with regularly. Your be working on a contractor by contractor basis but you can create synergies if your contractors talk to each other, know the standard of each others work etc
  2. Thedreamer

    Self Build Mortgage

    Yes I know that. In rural locations young folk might already have access to land but not be first time buyers. But owning a plot makes you no longer a first time buyer under the definition of the scheme, despite the lack of ownership of an actual physical building. I think it would be extremely rare for a first time buyer to be self building obtaining a self build mortgage and then buying the land with the first tranche of funds. I hope somebody has been able to do it. Often to be able to obtain the self build mortgage the land can be an important part of the deposit.
  3. Thedreamer

    Blockwork Wall Cost

    Going off the point, but the build is looking good!
  4. Thedreamer

    Self Build Mortgage

    @soapstarIt is a lot harder for us young ones to do self builds, finance is a big factor but also time. The cheaper you want the build to be the more investment in time you have to make whether that is project managing or doing work in the evening/weekends. But young folk have jobs and kids etc! Really it's best done when your semi retired or if you can afford to work flexibility. One added bonus is that because the building society was so tight in lending to us, we should end up with a mortgage of around £75,000 to £80,000 on a property which I hoped to be valued at £230,000 which ain't bad for a 32 year old? Self building is the only way to get on the property ladder in my local community. Really if you are young and want to do this you need land, but that is not even enough. Even small details have made it harder for young folk. Apart from our plot we have never owned a property or had a mortgage, but were unable to benefit from the Help to Buy ISA bonus, which would amounted to £3k. I discussed this with my MP and MSP but nobody was interested. Government plans: for younger generation, send them to university give them a £40,000 - £50,000 debt and double that if couple. Then move into a crappy developer house where the builder and everybody apart from you have sucked up all the profits, before finally giving you a nice big mortgage burden to carry around your neck for the rest of your days. You can't ever leave because of negative equity and you never know when you can retire. It's a great life to look forward too. Sorry rant over and sorry @MikeyC from moving from your original post!
  5. Thedreamer

    Self Build Mortgage

    @soapstar some of the hardest work can be before you have even put a shovel in the ground. Where are you building in Scotland? @Ferdinand makes a good point regarding posting plans, some changes may be possible through a non material variation. If you have costed the project then you could also post this here and prehaps forum members could view if any costs are over. For the borrowing limit, I had to be really careful with spending (although we are not big spenders) even got rid of my mobile phone (been without for two years!). I'm 32 and I put planning in when I was 22 or 23. Hope to be finished in 2019.
  6. Thedreamer

    Self Build Mortgage

    You already have the land which is good, is it the plot or the build that is most important for you? For us it is the plot, the building does not matter that much to me. Although I like our design for me it all about living on our plot. Our surveyor is working a fixed fee basis and then extra charge if required on a hourly basis. To be honest if you choose the right team they will keep you right. It also worth choosing people who know each other.
  7. Thedreamer

    Self Build Mortgage

    RICS quantity surveyor, comes and checks when the foundations are done etc, then wind and water tight, etc issues a certificate to the lender. He also reviewed the finances at the start to say whether it was feasible. The only trouble with the self build loan fund, is that you need a mortgage promise at the end, other wise you get caught with a high level of interest. It works well with a single contractor as hopefully your costs will be fairly stable and timing fairly accurate, but overall this is more expensive. Do you already own the land? Other option is the ecology building society, friendly team might be worth having a chat? Depending on your current energy rating you might need to look at your property's SAP to ensure it meets there criteria. Caravan, out of the question? Everybody has different circumstances, but we decided to invest some our savings into converting my parent's in law loft into 2 bedroom flat, with lounge, bathroom and kitchen. It's been home to me and the wife, and 6 and 4 years old for five years! We make a contribution for bills but we save a lot each month. When we were having trouble getting the mortgage I knew that it was just a matter of waiting and saving. I don't know your circumstances but could you rent your current place and move into a caravan? If you are determined to do this, you might need to think outside the box to achieve what you want.
  8. Thedreamer

    Self Build Mortgage

    @soapstar It took a while dealing with the Scottish Building Society. Yes 10% contingency and figures need to included VAT as well. I went with the surveyor inspections as this seemed to be cheaper than an architect or large builder. Of course a large builder would zero rated the whole thing which would improve lending but would be more expensive in the long run. Our build is a bit unique as we owned the land, receive a croft house grant, had some cash saved. So I really only need the money towards the end of the project. I've taken one drawn down to date, just because it was nine months or so since the project commenced and didn't want any offers expiring etc. The collective fees were a lot £3.5k or prehaps more in total for the Newcastle/Build Store arrangement. The Scottish Building Society was around £1k plus a valuation fee £300. The interest is higher but I only need to borrow the majority towards the end of the build, so will hopefully be a short period before being transferred onto their standard residential product with a low interest rate. I also liked that they didn't require a warranty, that was more money saved. I'm a CA and not that practical so this was part of the build that I could really add value. Have you considered the government backed self build loan scheme in Scotland? Unfortunately the number of lenders are pretty limited here, how far did you get with the Scottish Building Society?
  9. Thedreamer

    Self Build Mortgage

    @MikeyC - we looked at build store and they suggested a self build mortgage with the Newcastle Building Society when they talked through the fees from build store the lenders they were ridiculous.
  10. Thedreamer

    Land for the Many Report

    In our area, community land ownership with the exception of managing estate assets is less focused upon agricultural and more on large projects like harbour development, wind turbines etc. Both UK and Foreign land owners often have no interest in improving the vast areas of land in the Highland and Islands, but communities have the ability to do this, by accessing grant funding, raising fund through the community which then allows projects such a hydro or wind turbine to go ahead. These projects then allow funds to be distributed back to the community to help individuals with the costs of completing training or start up grants for small new businesses. Yes this an emotive subject but who has more rights over land, a community that have members who have lived there for generations or a foreign sheikh or billionaire tycoon?
  11. Thedreamer

    Land for the Many Report

    The report touches upon community land ownership in Scotland. This has been very important in the Highlands and Islands to ensure that regeneration and development can occur which then creates job opportunities and improves the local economy.
  12. Thedreamer

    Strip foundation vs insulated slab

    @K78 I have a suspended timber floor which was specified by our engineer. We did the insulation ourselves took a while. Biggest pain was hopping between joists and not being able to store stuff inside. Slab would have been cheaper and lot less work. You also have a workable surface once it has set.
  13. Thedreamer

    Insulation 3 and rendering

    @nod What is a WD? I've been looking at photos of rendering done around here for older properties and new builds which are probably timber frame. Some incorporate a bellcast bead but they are also rendered underneath but not with a smooth finish so is this render not prone to damp, frost/cracking as well?
  14. Thedreamer

    Insulation 3 and rendering

    Thanks @nod Is the idea that dampness soaks into the cement render then by passes the DPC and travels across the cavity (if left untidy or filled with insulation)? Would this be a problem in a timber frame property with a clear cavity? As the blockwork and render is essentially just a wall around the house. We also have a suspended timber floor so it's a bit higher than your typically slab.
  15. Thedreamer

    Insulation 3 and rendering

    That would certainty stand out! I'm not sure our planners would be to happy. We are in a National Scenic Area so got to keep the appearance in line with the local vernacular.