Vas Panel

VAS Panel launches project monitoring service for development lenders

VAS Panel has introduced a project monitoring service for property and development finance lenders, in a bid improve speed and quality of documentation.

The new offering utilises its valuation panel management platform to provide property and development finance lenders with national coverage of monitoring surveyors.

It has been created by shortlisting existing panel members which have internal building consultancy departments and can offer initial and interim project monitoring reports.

Allowing joint agreement of all ongoing fees upfront, it provides the lender with valuation, construction cost and risk advice throughout the loan cycle.

All reports will include a VAS executive summary to provide the lender with a consistent reporting style.

“Many of our network of panel firms have internal building consultancy departments, and we have brought these together to offer valuation, day one, and interim monitoring reports with fees agreed upfront, so the lender and borrower have agreed costs at the start of the process,” said Stephen Todd, co-founder of VAS Group.

He also believed the service encouraged discussion between valuers and project monitoring surveyors.

“Our core values are to offer an excellent service and experienced surveyors to help reduce risk for our clients — the additional quality control function is an important part of the process.”

To maintain quality control standards, VAS Panel will use the services of consultant Chris Wilman, formerly of Naismiths, Currie & Brown and JLL. 

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