When arranging a valuation, you should bring the following with you when you talk with your lender:
A full estimate of construction costs.
Your written schedule of progress payments. This schedule should show how much money you will need as you build, and when.
It should also detail the works you intend completing at each stage. This will assist the valuer in assessing the projected cash flow.
Council approved plans and specifications along with any conditions of approval.
Written details of where you intend to purchase the building materials, the credit terms available and copies of any trade labour cost quotes already arranged.
Written details of the work that is to be carried out by you as owner builder or family, friends and subcontractors. This should include all trades such as plumbing, electrical work, bricklaying, carpentry, roof tiling, wall and floor tiling, gas fitting, painting, concreting etc.
Make sure you highlight the works to be carried out at no cost, and detail any works to be completed at a discounted rate by yourself, or your family, friends, etc. You will also need to supply a complete costing of the works to be subcontracted to qualified tradesmen (include copies of written quotes).
If You Have Already Started Building
If you have already started building and need finance, but have not completed the internal linings (i.e. plastering walls) - you must also supply written details of:
The total cost of the whole job, including labour and materials
The total costs incurred to date
Materials on hand and paid for, but not yet in position (receipts required)
Evidence that the work in position has been inspected and approved by council. Copies of council approved specifications, along with any conditions of approval specified by the local council.
Finance
