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Extensions

Paying in instalmemts

Single storey kitchen extension (approx 20m sq).
Footings dug out, breezeblock walls up - already paid £ to builder, has now requested further £ to fund the purchase of roofing materials & steel girder. At this point, I have paid 70% of the build costs & still not at first fix - I appreciate that the builder may have cash flow probs, but at which stage should I be saying no more payments until x completed? I am assuming he will also have to pay the plumbers/electricians when they are eventually needed & think that at that stage he will request further funds. Help please.....

3 Answers from MyBuilder Extension Builders

Best Answer

Hi Karen,

I agree with Aaron. Your best to stop any payments now and speak with the builder to discuss the issues/ concerns you have. At least that way, you'll know what's what and will have a better idea on how to proceed.
Regards
Amrit

2017-02-14T19:40:01+00:00

Answered 14th Feb 2017

Evening Karen

I would agree with both Aaron and Amrit.
I our case we do draw up an agreement between customer and us, which states payment terms, materials list, schedule of work.
This covers both us and customer.

In basic
45% deposit is paid after signed agreement this covers 90% materials which are stated.
35% after an agreed period of time normally between 1-3weeks from practical start on site this covers our on site labour cost
20% paid at the end of the project once all parties are happy i.e. Building control architect and customer

We only request more fund to cover unforeseen works and materials.

I would suggest a meeting in a netueral place to discuss where the money has been spent and how the builder is planning on completing the project in budget.

Hope this helps

Regards
Adam

2017-02-14T20:50:02+00:00

Answered 14th Feb 2017

Hi Karen,

I suggest to stop all work, if your 70% through your budget already and first fix still has not been commenced this the time to stop before it goes any further.Find where you both stand and what's happened to the money why things seem to be being delayed and always requesting money (my point of view on things). Hope this helps.

Cheers,
Aaron

2017-02-14T16:35:02+00:00

Answered 14th Feb 2017

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