Do any building companies offer finance?

Question

How feasible is it to find companies that would offer to do work on finance? And would it be possible with bad credit or is this a guaranteed rejection even where buy now, pay later plans apply?

Chris · Accepted Answer

Some of my clients opt to pay by credit card, I’d imagine the criteria to get a credit card is very similar to getting alternative finance

Tom · Answer

Hello, you may be able to find a builder that would do this informally with a contractually agreed set of payment terms that extend out final payment to a specific date. But you'd expect to pay a premium for this and its quite risky for both parties, technically companies have to be licenced and approved in order to offer "proper" credit and it's a very infrequent request in my experience so I can't see a small/medium builder doing this. 

Depending on the work it might be best to speak to your mortgage company, it's very common for clients to pay for significant works like extensions via a re-mortgage. These usually come with some terms like chunks of funds being made available at specific stages of the build. 

Home improvement loans may be another option as even with bad credit you at least have something to secure the borrowing against. 

Generally speaking I'd say stay as mainstream as you can with lenders, the last thing you want is a dispute with a builder you've made and "informal" arrangement with. Good luck.

Dafydd · Answer

No I don't best I offer is split the invoice into three payments one deposit one half way one on completion.

Do any building companies offer finance?

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