The product is primarily applicable for refurbishment and light development projects up to £500,000 where the lender is comfortable with both the borrower and the proposed scheme.

Lenders receive an initial light due diligence in-person visit and report to identify each project's viability and — following the decision to lend — subsequent light touch monitoring visits and reports at each drawdown stage.

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Tim Coulston, managing director at DPT Monitoring Surveyors (pictured above), said: “Many projects simply lend themselves to a lighter touch, particularly when there's also a resolve to get the funds released at the earliest opportunity to customers those lenders have worked with before.

"I believe it’s for these reasons why the use of our Light Touch Visit and Reports product has surged over the past year, particularly with smaller refurbishment projects — and I don’t expect this trend to end soon.

“Lenders have rightly raised the level of entry to ensure there's less risk attached to those projects they accept — and this product fits perfectly with their current requirements and expectations.”