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Extensions

Is this a reasonable payment term request for an extension?

I am having a 39k extension taking c12 weeks to complete and the builder has asked for the following terms, and I thought the deposit was high, and so was wondering if what is being asked when is what I should expect?
Deposit
£10,000.00
Upon reaching DPC
£5,000.00
Upon reaching wall plate
£10,000.00
Upon reaching roof-tile completion
£10,000.00
Upon reaching plaster completion
£2,500.00
Upon completion of project
£1,500.00

Thank you for your help

3 Answers from MyBuilder Extension Builders

Seems reasonable enough, it's alot of outlay to begin with in material hence the high deposit I would say. No problem if you trust your builder.

2015-07-21T09:20:02+01:00

Answered 21st Jul 2015

If it's on contract all seems fine to me
Materials and salaries need paying for, the last payment is probably the company profit margin

2015-07-21T09:20:02+01:00

Answered 21st Jul 2015

Perfectly acceptable, however I would only make payment once the building inspector is happy with each stage, as the stages listed are the ones he will attend.

2015-08-03T09:25:02+01:00

Answered 3rd Aug 2015

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