How can we keep our funds safe?

30 March 2021

We are intending to build a laminated log bungalow. We have the site, planning permission and just awaiting the final drawings from ESTONIA, prior to getting building regs. We are in Devon! In your vast experience, would you have had dealings with the various ways of SAFELY releasing the funds as we have to pay something like 60% with order, 30% when they have made it and the final 10% on completion of the build. We will have the cash in place, but just handing it over from a bank account does not feel too 'protected' Is there a kind of 'mortgage' we could put our money into and it be released from that?

One Answer

  1. Rachel Pyne says:

    A mortgage wouldn’t protect the funds, as the funds are still released to the client and then client makes the payment to the Company. There may be some insurance that you can take in case the company goes bust.

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