I didn't twig at the time, but the valuation performed by the mortgage company valued our plot at 250k (bit of a shock, given I paid 350k) and they valued the house at 950k. It's a 200m2 property.
I didn't think too much of it and went and purchased the site insurance / self build warranty on the basis of the figure from estimators online. Namely 350k.
I then get an email today from the conveyancing solicitor telling me that Hanley want the site insurance and structural warranty increasing from 350k to 700k. No problem, I said, it will only be a few quid. Cut a long story short, it's another £2800
Moral of the story, make sure you push back against any overinflated valuation of the rebuild cost. 700k to rebuild a 200m2 with an attached garage is a complete joke, but I am not sure if there is anything I can do about it.