matthyde83 Posted January 14, 2022 Share Posted January 14, 2022 I’ve been asked by my mortgage company to engage a QS in the build and they want certificates of spend at each drawdown. Any else experienced this? If so what has been your experience with employing a QS? I obviously want to try to get as much value as poss without this being just another ‘cost’… Link to comment Share on other sites More sharing options...
nod Posted January 14, 2022 Share Posted January 14, 2022 You can get a Bill of quantities done via most of the larger Builders merchant chains For a few hundred pounds and back this up with invoices for Labour when drawing down Employing a QS on an individual house would be a real luxury Your builder or individual trade will know exactly what they need Im in the process of doing a bill of quantities for our build Simple spreadsheet That worked fine for our previous build 1 Link to comment Share on other sites More sharing options...
matthyde83 Posted January 14, 2022 Author Share Posted January 14, 2022 Unfortunately they have said they will want a QS throughout to confirm spending – they release their drawdowns on this basis - ‘when they require their next drawdown we will send out our valuer for a reinspection and request the QS Interim Report and QS Certificate of expenditure which will confirm the amount spent on works to date.’ Link to comment Share on other sites More sharing options...
Mr Punter Posted January 14, 2022 Share Posted January 14, 2022 Ask them to give a price for each valuation. You can then weigh up when to do the drawdowns. Link to comment Share on other sites More sharing options...
matthyde83 Posted January 14, 2022 Author Share Posted January 14, 2022 2 minutes ago, Mr Punter said: Ask them to give a price for each valuation. You can then weigh up when to do the drawdowns. As in the QS price per certificate? I imagine they need to be involved for the whole project? Link to comment Share on other sites More sharing options...
Mr Punter Posted January 14, 2022 Share Posted January 14, 2022 Just now, matthyde83 said: As in the QS price per certificate? I imagine they need to be involved for the whole project? Yes but there is no point getting them out for a valuation for a £10k draw if they are costing you £400 per valuation. Get to know them and make sure they include everything in their valuation. Link to comment Share on other sites More sharing options...
matthyde83 Posted January 14, 2022 Author Share Posted January 14, 2022 2 minutes ago, Mr Punter said: Yes but there is no point getting them out for a valuation for a £10k draw if they are costing you £400 per valuation. Get to know them and make sure they include everything in their valuation. Understood. Given the mortgage co will charge per drawdown for a valuation I will obviously limit this as much as poss. It will boil down to cashflow though obvs. I was wondering if anyone had engaged a QS in their build and had any tips... Link to comment Share on other sites More sharing options...
nod Posted January 14, 2022 Share Posted January 14, 2022 16 minutes ago, matthyde83 said: Unfortunately they have said they will want a QS throughout to confirm spending – they release their drawdowns on this basis - ‘when they require their next drawdown we will send out our valuer for a reinspection and request the QS Interim Report and QS Certificate of expenditure which will confirm the amount spent on works to date.’ I bet they wouldn’t require one if it was there money 2 Link to comment Share on other sites More sharing options...
freshy Posted February 13, 2022 Share Posted February 13, 2022 Who's your mortgage company? Link to comment Share on other sites More sharing options...
Dave Jones Posted February 14, 2022 Share Posted February 14, 2022 the bank normally recommends a QS, dont expect to get much change from £1000 per visit. Link to comment Share on other sites More sharing options...
LilttleVoice Posted February 17, 2022 Share Posted February 17, 2022 We engaged a QS initially to help us cost our project realistically, get tenders in and ultimately find a builder, as well as draw up the contract, and generally guide us through what had become a pretty daunting situation. For us, completely inexperienced in the self build process, it has been the right decision, to the extent that we asked him to PM the build; to date it's working very well - costing us a shade more in fees of course, but worth every cent to keep us on schedule and budget while balancing our vision and wish list – 'value engineering'. Also, it's saving us a great deal of stress! LV Link to comment Share on other sites More sharing options...
Marvin Posted February 17, 2022 Share Posted February 17, 2022 7 hours ago, LilttleVoice said: We engaged a QS initially to help us cost our project realistically, get tenders in and ultimately find a builder, as well as draw up the contract, and generally guide us through what had become a pretty daunting situation. For us, completely inexperienced in the self build process, it has been the right decision, to the extent that we asked him to PM the build; to date it's working very well - costing us a shade more in fees of course, but worth every cent to keep us on schedule and budget while balancing our vision and wish list – 'value engineering'. Also, it's saving us a great deal of stress! LV Love to hear the phrase Value Engineering! Shrewd move if you have limited funds. Difficult for some people if the size of their money doesn’t equal the size of their dreams. Link to comment Share on other sites More sharing options...
Dave Jones Posted February 17, 2022 Share Posted February 17, 2022 think some are confused on what a bank QS does. He is there purely to verify the progess of the build against the pre-agreed costed plan. You wont get paid for packs of bricks, timber etc that is not built in. He wont be there to project manage, run the build or offer advice. Legally he works for the bank and the bank pays him via you. Link to comment Share on other sites More sharing options...
Marvin Posted February 17, 2022 Share Posted February 17, 2022 On 14/01/2022 at 16:12, matthyde83 said: As in the QS price per certificate? I imagine they need to be involved for the whole project? This sounds like a high cost overall. For example: 300k loan with 3 drawdowns costing about 1k each, that's another 1%. Link to comment Share on other sites More sharing options...
Dave Jones Posted February 17, 2022 Share Posted February 17, 2022 yep they are a rip off. Link to comment Share on other sites More sharing options...
Dave Jones Posted February 17, 2022 Share Posted February 17, 2022 On 14/01/2022 at 16:22, nod said: I bet they wouldn’t require one if it was there money looking at it from the banks point of view, you could ask for a 100k drawdown and have done no work so it has to be checked. You can argue it if the bank has other security of yours to sell should you default. Link to comment Share on other sites More sharing options...
LilttleVoice Posted February 17, 2022 Share Posted February 17, 2022 2 hours ago, Marvin said: Love to hear the phrase Value Engineering! Shrewd move if you have limited funds. Difficult for some people if the size of their money doesn’t equal the size of their dreams. A.K.A 'nip and tuck'! Our decision wasn't so much about limited funds, more about having a trained eye on managing costs with everything getting so volatile, and making sense of the huge differences in builders' tenders - everything from considerably less than expected, through comfortably affordable, to untenable. Link to comment Share on other sites More sharing options...
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