Project Monitoring for property investment funds and lenders

We provide a bespoke and personalised approach to monitoring surveying assisting both the lender and the borrower.

We provide our clients with direct access to the wealth of experience of our surveyors who will always be on hand to give the best advice and support.

Independent Monitoring Surveyors

At Sillence Hurn we believe that the role of the Independent Monitoring Surveyor (IMS) should assist both the lender and the borrower and understand the goals for the project to be delivered on time and on budget.

We act directly for property developers providing other surveying services such as Party Wall, Dilapidations, Project Management and Contract Administration.

This enables us to anticipate and understand the challenges and pitfalls that befall construction projects and our experienced record of project delivery assists us when acting as IMS.

At Sillence Hurn our surveying team has a combined 70 years' of experience in the property and construction industry working across residential, commercial, industrial, leisure and laboratory sectors. Within our team we have experience of acting as IMS for HSBC through to smaller investors and lenders.

Choosing Sillence Hurn will provide you with direct access to the wealth of experience that our surveyors provide who will always be on hand to provide the best advice and support.

Key services to property investors

"The IMS should share their technical understanding and assist in identifying project risks and assist the borrower to mitigate those risks"

Initial stage

Technical Due Diligence

On approval of our appointment documents and fee proposal we would begin the initial stage of our involvement as IMS and review all the technical risks of the project. This "initial report" will establish the risk profile for the project taking into account the agreed lending facility.

At Sillence Hurn we understand the importance of establishing strong lines of authority and communication with the
borrower from the outset of the project and that early sharing of a preliminary requirements list will assist with the initial
stages.

It is common for us to arrange a "kick-off" meeting with the borrower and their project team to gather key project
information, such as; project timescales, known problems/risks and establish lines of communication.

The initial report provides the lender with a clear and general assessment of risk of each element of the project.

We understand that lenders requirements for the report format may differ depending upon the lending structure.

Depending upon the project the financial close / contract completion may also act as a milestone and will require input from the IMS to prepare a final and updated technical checklist and risk register.

Construction stage

Drawdown & Risk Monitoring

The IMS has two key roles at during the construction phase of the project; certifying drawdowns for the lending facility and consider and monitor technical risks that arise.

At Sillence Hurn we believe that outlining a detailed project calender with the borrower at the outset is key for the construction phase to run smoothly. This should involve adding to the diary progress site meetings, drawdown dates and pre-visit information which will be required from the borrower. This will also allow for any conditions that form part of the lending arrangement to be explained and discussed with the borrower.

We would agree the timescales for the issue of the drawdown report as part of our services agreement at the outset and
would usually be 5 working days of the drawdown date.

At Sillence Hurn we believe in clear and concise report writing and the use of a "traffic light" risk rating (Red, Amber, Green- RAG) will be utilised within each drawdown report. This allows the lender to quickly identify and evaluate the status of current project risks.

We believe that the IMS should be involved within the project progress meetings with the borrowers project team to allow for opportunity to listen and discuss any arising issues.

Our progress reports will take into account all expenditure (foreseen and unforeseen) and our professional opinion will be
provided on the ability of the borrower to fund the remaining project through to completion. This gives the lender sufficient information to consider the funding position throughout

Make an enquiry

If you have a specific project you need assistance with, please complete our enquiry form below. Please provide as much detail as you can so we're fully informed. If you'd prefer to call us to discuss the project further, you can reach our team on 02380 014786.

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