Deeds, deeds and more deeds

I prematurely posted earlier in the month saying that we were ready to start, and as i am starting to learn nothing seems to run smoothly or on time. I hope this is not an omen for the rest of the build!! (1 year and 6 months since we initially decided to purchase the site!!!!!)

At the moment, contracts are signed and the deeds are with the landowner awaiting signature for the last two weeks. I have the mortgage ready to go to pay the balance on the site €108,000. The mortgage company are unwilling to let me draw down any more than this amount so i will have to fund the initial stage to the floors out of our pocket. Even though the site is valued at €250,000 the mortgage company will only let me drawdown 90% of the site purchase value for now. They have told me once the floors are in i can claim 90% of the site valuation value and 100% of the construction costs to that stage of which they dont require back up for, once its signed off by my engineer.

I will be setting up accounts with concrete supplier builders merchants i will also have to pay my Man for the excavation and the fencing company before i get the mortgage money across.