Financing renovation through equity release

mcmurphy2018

hi   
i'm not sure if this is the right place (as a newbie) to post this, but here goes.   I'm considering extension on rear of house and few cosmetic changes inside house (extension will be under 20sqm, so don't think i need PP).   My question is in relation to the financing will banks only release equity if you have an architect on board to supervise all project?  If the answer is no do they only release amounts when invoices are submitted and for set release amount ie €20k each time?  any advice on this side of it please.  At this point i've had discussions with Architect and a also a recommended builder (who thinks i don't need an architect for what i want done).  
thanks

jlm29

We did an equity release earlier this year for a few bits (rewire, some plastering, groundwork’s etc etc). We didn’t have any architect or engineer.
We had to get a valuation before (I think usually you would have to get another valuation after, but we didn’t, I think it was to do with the LTV).
We had to get an engineers report before they would release the money, but that was just because of an existing extension that had no planning, nothing to do with the work being done.
We had to draw down on invoices, in 20k stages. I think in the case of bigger works (and probably bigger sums of money) you would only be able to draw down the money when an an engineer signs off on it

mcmurphy2018

thanks for the reply Jim thats very useful - hope the works all worked out for you