Estimators online

[PSC88]

Will a costing spreadsheet from estimators online be enough for my self build mortgage application? To give a rough cost of the build 

[PNAmble]

Probably, ask your mortgage provider.  Mine used a very high level builder’s proposal had about 10 line items and I think 4 of those were provisional sums.  I was told that all they wanted to know was that you’d thought about it, because the underwriters will make assumptions on your cost of build using industry standard £/sqm irrespective of what you provide them.  

[PSC88]

Thanks for the reply, did you use a turn key builder?

 

who did you use for the mortgage? 

 

im looking at project managing and having different contractors working for up to shell level and then internal fit out.

 

 

[Dave Jones]

13 hours ago, PSC88 said:

Will a costing spreadsheet from estimators online be enough for my self build mortgage application? To give a rough cost of the build 

 

unlikely. Does it include all the 2nd fix items ? Structure below DPC ? Steels ? All the fees (warranty, SE, SAP, Bio etcetc) ?

 

Probably need to add a third again then another 20% of the lot as a contingency.

[PNAmble]

11 hours ago, PSC88 said:

Thanks for the reply, did you use a turn key builder?

 

who did you use for the mortgage? 

 

im looking at project managing and having different contractors working for up to shell level and then internal fit out.

 

 

We had nearly turn key solution, they provided the M&P labour but we pretty much managed it, and also managed the kitchen and bathroom and externals.  It all went through the books of the builder to help us with cash flow re VAT. 
 

Mortgage with Harpenden, and Mayflower as a broker.   

[PSC88]

10 hours ago, PNAmble said:

We had nearly turn key solution, they provided the M&P labour but we pretty much managed it, and also managed the kitchen and bathroom and externals.  It all went through the books of the builder to help us with cash flow re VAT. 
 

Mortgage with Harpenden, and Mayflower as a broker.   

thanks for your reply, when doing the costings for the build and providing these to Harpenden what level of detail did you go in to? Was this all provided as a quote from the builders? And did they query this at all?

 

Many thanks

 

 

[PNAmble]

15 hours ago, PSC88 said:

thanks for your reply, when doing the costings for the build and providing these to Harpenden what level of detail did you go in to? Was this all provided as a quote from the builders? And did they query this at all?

 

Many thanks

 

 

 

We had to fill in a costing form, which we used a combination of builders quotes, a very early QS estimate, and our own costings, I've attached the form we had to fill in - we had a broker helping us.  they then sent a valuer to the plot - which we already owned.  Harpenden insisted that a 20% contingency was used as opposed to the 10% on the form .  This was unsurprising as it was just as the costs were increasing on almost weekly basis!  On the basis of this, they calculated how much they'd lend us, with respect to the valuation, loan to value, and affordability.  

Timber Frame costings form.pdf