Fund Monitoring is a fundamental component of many construction projects, and assigning a Professional Fund Monitor to liaise with banks and secure funding on your behalf is an efficient way to increase the likelihood of lending.
In the current economic climate, banks and other lenders are becoming increasingly selective with the construction projects they choose to fund.
Engaging the services of a Fund Monitoring Consultant like AG Surveying ensures that both the end client and the lenders' interests are fully protected.
Assessing your need for Fund Monitoring
A qualified Fund Monitoring Surveyor will always have:
- Knowledge of the construction market and land ownership
- Knowledge of funding mechanisms in construction
- Understanding of how funders and banks operate, how they decide to fund an asset and how banks perceive risk
Perhaps you recognise gaps in your own skill set that would benefit from the appointment of a Professional Fund Monitoring surveyor, or perhaps you have established that it is a more efficient use of your time to be focusing on managing the operational side of your construction project.
Fund Monitoring is a specialist role that requires a competent surveyor to analyse a lender’s debt finance and gather essential information that will determine the funding of the construction of an asset. A fund monitoring team will consider and manage the risks involved in the loan and advise how best these can be mitigated with real solutions. A Fund Monitor will work with the client throughout the entirety of a project, conducting regular site visits to ensure the project is running to programme and budget, and to raise issues as they arise, informing the lender throughout.
If you would like to find out more about how a Professional Fund Monitoring Surveyor could support your construction project, contact our Surveying team today.