Self build mortgage changing contractor

[PSC88]

Hi all

 

just some advice, I am in the process of applying for my self build mortgage.

 

i am acting as a project manager employing different trades to complete the build.

 

as part of the application the bank has asked for details of the contractors.

 

i have independent quotes for

 

groundworks/drainage

brick/block to roof level

roof and tiling

windows

 

essentially getting me to a watertight shell.

 

my question is what happens if I give serial for the trades to bank and then decide to change my mind on which contractor I choose?

 

I have a few quotes on the brick ones for example but not fully decided who I will use yet, but really need to get my application processed to approval so I know the funds are available.

 

in addition internally there will be numerous more trades, screeding, plumbing, electrics…plastering etc

 

will they want a literal breakdown of every single tradesperson?

 

any advice from a self builder/self

manager who has relied on self build mortgage  

[nod]

They just want to know your costs 

It doesn’t make any difference over who does what 

You could use a QS or get your local builders merchants to cost the whole build 

[PSC88]

I have given costs to broker

 

my broker also states that need a CV of work from contractors, particularly if they don’t have a website?

 

I just wanted to know how far this will need to be broken down as could be 20 different trades used in the end to complete varying parts of the job 

[nod]

Your probably better bringing in a main contractor then To do the whole job and they will bring in subcontractors 

[PSC88]

Yes, aim was to save the costs of the main contractor who will most likely be using the same tradespeople as my but adding 20% profit margin