Castons has substantial experience in providing independent monitoring surveying (IMS) services to a variety of lenders.
Castons employ professionally qualified monitoring surveyors who are able to provide high quality advice tailored to the needs of each individual lender. Through discussions with the client Castons will establish a ‘scope of service’ which will seek to mitigate the lender’s risks. We carry out an initial thorough independent technical due diligence appraisal of the project, and make an assessment of any potential risks. A comprehensive report is produced detailing the findings of investigations into project aspects such as costs, programme, planning permissions, experience and suitability of contractors and designers, relevant insurances and contractual arrangements.
Once the project is on site Castons’ surveyors monitor the progress of the development, assess any arising risks and approve debt drawdowns from a technical perspective in accordance with the agreed lending terms. We seek to positively influence the development to ensure that the lender’s interest and exposure is properly considered and provide ongoing commentary in the form of regular progress reports.
Castons currently carry out IMS services for many well-known funders and are accredited by Hellios supply chain management services.