Lenders will require sight of your client's project costings to ensure that their property can be completed to the proposed budget. Collating this information with sufficient detail for the lender can prove challenging and time-consuming for your clients. Builders are often reluctant to quote for work until detailed planning permission has been received - and even then - rarely cover every aspect of the build.
Your clients can fast track this part of the process and save unnecessary stress and delays with BuildLoan's costings service (self builds only), where their costs can be prepared for them by an experienced project manager for just £100.
This is a remote desktop exercise carried out by our Project Support Team, comprised of highly experienced builders and estimators on hand to assess your client's site plan, house plan and planning permission and produce costings with sufficient detail, to allow their mortgage application to proceed. Your client's will receive our best estimate of reasonable build costs for their project - based on our experience of handling many hundreds of applications.
The process is very simple - your client provides us with their plans, planning permission, any specification of materials they have at this stage, and make themselves available for a telephone discussion with one of our Project Support Advisers - they'll take care of the rest!
This service not only speeds up this part of the process, it also provides your client with the reassurance that prices they've been quoted are the most competitive and helps identify areas where savings could be made or a better deal found. Nobody wants to get halfway through their project and have to borrow more because they've been misquoted.
Your client's costings will be used to produce a tailored cashflow for them, ensuring sufficient funds are available at every stage of their project.
To find out more about our costings service, speak to one of our Broker Help Desk advisers or your case manager