Most developers require some form of bank lending to provide cash flow for their projects, from inception to completion, through to ultimate sale or refinancing.
As a lender, if you have financed a development project, you will want to make that your interests are protected.
One way to do this is to engage the services of an independent firm of Chartered surveyors, who can monitor the development, making sure that the project is on track and that the money is being used appropriately to progress the scheme.
Our team of building surveyors work with many primary and secondary lenders of development finance and are experienced in development monitoring work.
We prepare and issue bespoke reports in whatever format you require, to satisfy your internal decision-making process about whether or not to provide funds for development.
The first stage of this process involves our Chartered surveyors undertaking a desktop review of the proposed development.
This will typically include a review of detailed drawings, specifications, proposed contract arrangements, as well as a detailed cost plan, programme and cashflow forecast. Marketing reports from suitably qualified property agents will also be reviewed.
Following this, we will carry out a physical site visit with the developer, to assess the site and ensure that the project proposals adequately manage potential site conditions and constraints.
You will be issued with an initial report to inform your decision whether or not to lend. Once agreed, you can advance funds to the developer as works progress, which supports the project’s cash flow.
To ensure the development you have funded continues to remain on track, we will visit site each month to verify and report back on progress, before you advance your monthly draw down of funds.