Browse Forums Building A New House Re: Builder requesting banks letter of offer 8Jul 04, 2018 7:20 pm Georgie00 Wow they wanted to know how much funds you had in your savings account... I think if the bank tells them that the loan is approved for the quoted amount and obviously telling them the quoted amount like Amish stated that should be enough, just my thoughts. Wondering if there are any regulations regarding this... LOL Regulations, there are no Regulations.. that is why there is a Banking Inquiry The bank will do a valuation on your build and that's is what they will lend I suggest you use some of the online property apps and limit your variations & spendings If your tender goes over that amount the Bank will ask you to dig into your savings.... hence you will need to show proof, bank accounts, spendings, employment records,etc hth Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Builder requesting banks letter of offer 9Jul 05, 2018 6:31 am Our loan is for around half of the build price. In addition to the bank "Authority to Build' letter our builder asked for either a copy of a bank statement showing the balance of the build cost or a joint account between us and them just to guarantee the total build funds. Seemed reasonable and in the end they settled for a copy of the last page of our bank statement - which was a new account I opened purely for our portion of the build funds. Regards, Paul Re: Builder requesting banks letter of offer 10Jul 05, 2018 8:33 am Thanks for all the input guys seems pretty standard then for the builder to request for these private documents. Just wanted to make sure before I go and hand over my financial position to the builder The HIA contract, in the term & conditions section states that "Commencment" is deemed when the drainage is started or the piers are dug or the slab is formed up (incase… 2 6183 Was the offer also on their website? If so, you could check the Wayback Machine. 1 1021 |