Builder wants 30% as deposit

[SunflowerLV]

Hi,

I am currently planning a whole house renovation so speaking to potential builders at the moment. A couple that I've spoken to have mentioned that if we were to appoint them then they want a 30% deposit. DP thinks this is normal but I've read in various House magazines that you should never pay a builder upfront and you just pay them in stages as the work progresses. If we gave them a 30% deposit which amounts to around £30k wouldn't that be deemed as paying upfront? That would be a lot of money to give to a stranger, what if he did a runner? I can't believe DP is not concerned about this aspect.....!

What are your thoughts or am I being paranoid and should have more trust in people?

[Jeanne51]

Agree with 12 3rd. Do not give money up front and pay them in stages.

[Jeanne51]

Good builders don't ask for money up front. They have business accounts with merchants so they do not need money for materials. If they can't get credit why would you give them thousands of pounds. I never pay builders or plumbers etc up front.