How do I find out the rebuild cost of a house?

kne

How do I find out the rebuild cost of a house?

Im a FTB, just put an offer in on a house and am completing the final part of my mortgage application.

In the application they want to know how much it would cost to rebuild the property! I have no idea, the property is worth £165,000, how do I find this information or do I leave it to the mortgage companys valuations.

Many thanks!

zappahey

The survey should tell you.

kne

Is that the mortgage companys valuation survey or my own survey?

Thanks.

robwend

do a building quote with a insurance company online like tesco, once you put in postcode of property ect it will work out rebuild for you,

bookgirl_2

The insurance industry use the BCIS guide, which gives you a per square metre rate for the property, which you then multiply up.

There is a calculator at: http://calculator.bcis.co.uk/

I deal with insurance claims and this calculation is done each time to make sure you have enough insurance - if you are significantly underinsured then your claim can be reduced proportionately (this is called average).

kne

Thanks to you both. Got the amount from tesco in the end ;-D