Finance for Self Build - Development Contributions

S

Shamrock

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Hi all, hope title is ok? Maybe someone who has gotten a self build mortgage recently can answer this? Do banks finance the development contributions, water/esb connections etc? Looking at paying around €15k to council plus I reckon another $3k for water/esb which I have to confirm. All replies appreciated, cheers.
 
Can't see why not. It is for the house and the services are straight forward undisputable costs. The bank tend to have a fair few conditions regarding payments on a self build. Don't expect them to hand you all the cash and away you go. They set stages to monitor the build
 
They won't finance any of the pre-costs eg council charges, esb connection water permission etc and in fact its likely they will want you to start the build from your own money so that the mortgage will complete it with some to spare. The reason they do this is to insulate themselves from having an incomplete house on their hands should anything go wrong...my situation is I have to spend 60 k of my own money before they will release any funds as the mortgage amount + 60 k = cost to complete i submitted.. prob is i dont have 60 k so need to get architect onside to submit that i have 60k spent in reality i will only have 30k ish hope this helps. Beware the amount you spend pre build is much more than you wwould have planned on!!
 
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