Managing The Building Process

The NewBuild Process Building is a complicated process which needs to be handled correctly

So you have bought your plot of land, chosen your builder, secured finance, and you are ready to start the building process. The hard part’s over right? Not exactly.

To ensure the building process runs smoothly, it is crucial to maintain clear communication between you, your builder and your bank. Without this certain problems can arise. Most problems that occur during the building process are due to conflicts between your bank’s loan criteria and your builder’s invoicing system.

NewBuild maintains cashflow to your builder throughout:

Your bank never agrees to the terms of a building contract and can easily, at their discretion, halt all progress payments to your builder if they judge the value of the asset to be insufficient against the loan. This is a real risk, which NewBuild can help to negate through management of your builder's progress payments.

We manage the risks of building:

Choosing NewBuild means minimal risk throughout the building process. Prior to any actual construction taking place, we ensure that you have a copy of your builder's risk insurance certificate. This is a document which all lenders will require before any progress payments can be made. For more information, see our article: What is builders’ risk insurance?