New build advice

[Blue62]

I have secured a plot and have started initial talks with a couple of architects, one firm I am talking to will manage the whole project, draw, plan, appoint builders, spec and finish, which appeals as I am no builder and the plot itself is a few hundred miles from where I live. Basically I am looking at a high end project, I've been quoted £200 psf for the whole deal, seems a lot to me but I am new to this.

I've done some cursory checks on one of the firms and their finances look weak, last filed accounts were end of 2013 and I am concerned that they will want funds in advance. Can anyone direct me as to where or who I can get advice to protect myself from any unscrupulous practice while making sure my pants aren't being pulled down.

[Blue62]

Thanks Inky, I'd no intention of paying the lot upfront, but want to know where or how I can check this firm out to make sure that they have done the projects they claim to have done and make sure my money is safe (escrow account or similar). I will contact the Royal Institute.

[Blue62]

Thanks John, I'm still at the early stages and want to meet a few local architects, this particular firm handle the whole project from start to finish, including appointing builders and project managing. From what I have seen so far their work is in line with what I want, but I will have to do a lot more checking yet. One big concern is how the funds/stage payments are handled and what assurances I would have, on a project of this size (4000q ft) I could get into serious trouble quite quickly.