Risk identification and management: As part of our appraisal we complete a thorough document review in order to identify and manage the financial risks associated with the development, reducing risks from the outset. This includes scrutinising the planning permission and conditions, contamination, building contracts, building regulations, services, budget, collateral warranties, building warranties, professional appointments and programme finish date.
Onsite inspections: During construction of the development we monitor the progress of the project through regular site inspections and drawdown valuations. As an independent surveyor, looking after the interests of the lender, we are able to monitor the developer’s compliance to the agreed programme. This includes monitoring the correct selection of materials, ensuring the quality and longevity of the materials. Working closely with the developer and their design team we can assess any potential risks, such as planning or budget issues, and provide immediate feedback to the lender.
Final inspection and report: During our final inspection we take care that the development meets the minimum health and safety standards and has all necessary warranty certificates and maintenance manuals. In our handover we make sure that the project is completed on course and provides final cost reports.