What does self build mortgage cover?

lemontart

We are at early stages of looking at sites. I am trying to wrap my head around the financials.
Could someone outline what items are not covered with a self build mortgage?
I am not sure about the following;
Solicitors fees?
Engineers/architects fees?
Contribution to council?
Connection to esb and water?

Thanks in advance

dellas1979

Solicitors fees? Would estimate about 2k
Engineers/architects fees? How long is a piece for string. An archi about 15-17k (from design, to planning, to builders drawings, to certifying stages of house build)
Contribution to council? Ring your council and ask. It varies from co to co co
Connection to esb and water? ESB 2k. Digging ducts (if needed) depends. Water. How long is a piece of string. I was quoted 2.5k. Others Ive read have been quote 7.5k.
Alot of the above depends on what you want to do. Do you want an archi designed house? Or a bog standard house an engineer could do up drawings for you)

lemontart

Thanks for the reply. I totally understand that it's impossible to estimate costs. My question really was what costs are included in the mortgage, as in what costs do I have to budget for to pay myself like esb connection or council contributions. Does the bank lend for those type of costs or are they separate to the mortgage? I hope I'm making sense.

JoeA3

To answer your question, yes, I think you can include professional fees, council fees, etc in your total overall cost to build for the bank.

See the attached form that BOI gave me recently. (Section 5).

dellas1979

Gotcha now.

Well, see, I didnt find the costings a very...helpful process.

Like, my archi put down in the costing that their fee would be 3k or something (let's all laugh at that). I knew he wouldnt cost 3k. The bank would have known too.

We basically threw a few figures into a costings form - very unrealistic ones. I wanted the mortgage for the build only. Was paying archi/solicitor myself.

I still dont know though why someone would want to pay professional fees using their mortgage money (you pay such a high interest over 20/30 years).

Try beg, borrow, save that money from some where else.

ustari

dellas1979 wrote: »

Gotcha now.

Well, see, I didnt find the costings a very...helpful process.

Like, my archi put down in the costing that their fee would be 3k or something (let's all laugh at that). I knew he wouldnt cost 3k. The bank would have known too.

We basically threw a few figures into a costings form - very unrealistic ones. I wanted the mortgage for the build only. Was paying archi/solicitor myself.

I still dont know though why someone would want to pay professional fees using their mortgage money (you pay such a high interest over 20/30 years).

Try beg, borrow, save that money from some where else.

Much of a muchness really.

By that logic, why would you pay for a tap over 2/30 years?

Wouldn't get too bogged down by which "pot" it comes from.

dellas1979

Its not really.

I guess everyone has different priorities.

I wouldnt pay for that imaginary tap either over 2 years.