New Build finance - drawdown expiry date

[runner]

A friend is building a new house and has agreed finance with one of the local main banks (not sure which one). The drawdown is based on certification of work done. He is not in a position to commence work until around the time of the loan approval expiary date, in the late autumn. In the current economic/banking climate, is it risky asking the bank for a say 6 months extension on the drawdown final date?
Is it, alternatively likely that the loan might be reviewed or withdrawn if it goes beyond the expairy date. Any opinions from AAMers out there with knowledge in this financial area would be appreciated.

 

[poppy1]

Re: New Build finance - drawdown expiary date

hi
we got everything ready to start our build in august 06. that didnt happen until jan 07 so we didnt need money till feb and had to resend in all our statements again for nov to jan!!! we went with ulster bank and they were unreal - 4 times i had to send in my marriage cert. (married in oct 06) they would give us the money one time and then not give it to us until we provided the marriage cert another time. we had delays with cash because they kept losing our stuff it was un real.
i regret doing everything so early. i would advise to apply for all of these things only weeks before you need the cash!!! but there was no limit as to when we had to have it all drawn down by??