By liaising with legal and valuation teams and guiding borrowers through the process as necessary we ensure that initial funding adheres to agreed financial timescales and that the draw-down of funds is approved efficiently throughout to maintain project cash flow.
Having committed to funding a development and seeing it get underway, the project must be carefully monitored with regular site visits made in order to pick up any key issues and make sure they are dealt with.
Prior to the fund committing to lend to the development we prepare an Initial Audit Report to inform the fund of the status of key development issues:
- Development Cost
- Programme and Project Development Timelines
- Drawings and Specifications
- Planning and Statutory Consents
- Site Investigations and Survey
- Procurement and Building Contract Strategy
- Consultant Appointments
During the construction phase we then monitor the developer’s compliance with the terms of the loan facility and contract requirements and proactively keep the funder informed, particularly of any changes to the risk profile throughout the build period.