How can I claim notes from my construction depot?

In principle, notes that comply with the construction plan, as included in the appraisal report, can be claimed from the construction deposit. The following conditions apply:

  • The minimum declaration amount is €10,000, unless the amount remaining in the deposit is less than this.
  • When paying the last 10% of the construction deposit (minimum €10,000), the surveyor must visit the property again, confirm that renovation works have been completed (including photographs of the renovated areas) and declare that the value after renovation is at least equal to the value in the  valuation report approved by Hyra Hypotheken.
  • For loans with a construction deposit of over €100,000, a building inspector on site must verify  invoices submitted and progress of works for each declaration. This building inspector will be  appointed by Hyra Hypotheken.
  • For renovations of less than €100,000.00, Hyra Hypotheken also reserves the right to carry out checks during or after works.
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