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I accept that Shahin clearly knows more about this and thinks it should be OK in this situation. (Though noting it was required on my PPOR build because the progress payments were not in accordance with HIA/MBA schedule; builder had to justify deviations.) It's less about the total cost than...

The builder has every incentive to get progress payments paid ahead of schedule, I'd be very surprised if the lender accepts it.

Does that person have professional indemnity insurance that covers them if they get it wrong? To make sure they never get to a point where they've paid out more cash on the project than it's worth. It's to address their risk of loss if, for some reason, the project can't be completed and has...