stages in self-build mortgage

[hjrdee]

Can somebody who has availed of a self-build mortgage or perhaps somebody who sell thems help me with the following:

We have a site which we have been given by my parents to build our PPR. My salary is €32,000 and my partners is €27,000. No other loans and about €6,000 in savings. I am a Chartered Accountant fully qualified.(recent). As I understand it our 1st stage payment is based on the site value. Is this correct?

I'm just trying to figure out the best way to organise my mortgage. I understand it will be in stage payments but how flexible are these stages. I will be overseeing the build with my engineer signing off on each stage. One builder will be responsible for building house to roof level, not including plumbers, electricians, etc. Is their a maximum no. of stage payments? Do we qualify for the build cost or a % of the final value. We would be planning to furnish our house with mortgage also.

All help and advice greatly appreciated

 

[Jolly Man]

Hi there,

There are normally about 5 stage payments from what i know i am just going through the same process as yourself, the first payment is based on a percentage of the site value i am getting 92% of mine with the ebs self build mortgage. If you look up there website they have very informative booklets on the whole self build process i think it explains it all very well!

 

[Carebear]

I had to clear site and dig foundations using my own money then when foundations were dug my enginner gave us an intermin cert to cover cost of concrete for the first pour and buy blocks for rising walls. He came again and gave cert at dpc level, coming again when block work is finished, roof ready to tiled/slated and then on completion.