Funder Information Management
Monitoring Surveyor liaison, from facility set-up to building control sign-off.
The information your funder needs, gathered and checked
A funder will not release money until their Monitoring Surveyor has what they need. On most schemes that is around ninety documents, held by fifteen or more different parties, and the borrower is expected to produce them. We hold the schedule, chase what is outstanding, check it and issue it in a form the Monitoring Surveyor will accept, so drawdowns stay on time.
Why borrowers use it
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It takes the pressure off you. We find who holds each document, approach them and chase it.
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It is checked before it goes. Every document is checked by a director before it is issued.
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It keeps drawdowns on time. The Monitoring Surveyor gets what they need, in the order they need it.
We issue direct to the Monitoring Surveyor and copy you on everything. Anything commercially sensitive comes to you for approval first.
WHO IT'S FOR
Any developer without an Employer's Agent, Quantity Surveyor or Project Manager on the team, where the coordination would otherwise fall to the borrower personally.
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First-time and smaller developers taking on a funded scheme
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Established developers whose team is fully committed elsewhere
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Planning Consultants, Brokers and Solicitors whose clients are approaching loan completion, or require monthly drawdowns
No juniors, no handovers
Two directors, and you deal with both. Sarah Stevens runs the gathering and holds the schedule, and Mark Stevens FRICS, a Chartered Quantity Surveyor, checks the technical and commercial documents. Nothing is issued without a director checking it first, and never by a junior.
Every appointment includes
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A schedule of everything your funder and Monitoring Surveyor are likely to need, phased across the scheme
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The party who holds each document identified and approached directly
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A progress report with the documents attached, at intervals agreed with you
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A single point of contact for the funder and the Monitoring Surveyor
PHASING
Four phases
Take the ones you need.
Indicative fee range within 24 hours. A fixed fee follows once we have seen the facility conditions and the size of the team.
THE FOUR PHASES
What is covered, and when
Each phase is a separate product, and each follows your funder's own schedule. Most borrowers start with Phases A and B, where the pressure is greatest, and decide on C and D later.
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Report on title and red line plan
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Planning consent and condition tracker
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Consultant appointments, experience and PI cover
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Ground investigation, ecology, asbestos and other surveys
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Development appraisal and evidence of costs incurred to date
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Borrower's insurances
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Section 106 and Community Infrastructure Levy
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Building contract and schedule of amendments
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Performance bond and parent company guarantee
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Collateral warranties and novation agreements
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Contractor's insurances
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CDM: pre-construction information, F10, construction phase plan
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Building control and warranty provider approvals
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Party wall awards, utility agreements, pre-commencement conditions
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Valuations and payment certificates
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Updated programme and contractor's progress report
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Change control and variation register
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Updated cost report and cashflow
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Remaining planning conditions
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Building control and warranty provider inspection records
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Practical completion certificate
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Building control completion certificate
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Warranty provider final cover
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As-built drawings, operating manuals and the health and safety file
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Statutory adoptions and utility sign-offs
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Final account and retention release
THE PART THAT SAVES YOU TIME
What we notice
Mark Stevens FRICS checks the technical and commercial documents before they go out. Thirty-three years as a Quantity Surveyor, regularly acting for lenders as Monitoring Surveyor over that time, means the usual problems do not get past him.
What we check
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Current, not superseded or expired
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Names the correct borrowing entity
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Covers the scheme as now designed
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Executed, signed and dated
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The right type of document for what the funder asked for
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Complete, with its appendices
Things we have seen go wrong
A site report addressed to a previous owner with no reliance letter. An asbestos management survey where a demolition survey was needed. A bat survey outside its seasonal window. PI cover expiring before practical completion. A CIL commencement notice not served, triggering a surcharge.
What we do not do. We gather, check and flag what is obviously wrong, but we do not review the terms of your contracts or appointments. That is for your solicitor. We act for the borrower, not the funder, and we are not your Monitoring Surveyor.
GETTING STARTED
What we need from you
To get started
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A project directory. Names, roles and contact details for everyone on the scheme: design team, contractor, building control, warranty provider, solicitors, brokers, your Relationship Manager and the Monitoring Surveyor
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The facility agreement and your funder's information requirements
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Written authority for us to approach those parties on your behalf
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Access to the data room, if there is one, and anything you already hold
No directory? We will build one. It is usually the first thing we do.
TRACK RECORD
Funders Mark has acted for
Homes England / The National Housing Bank • Fairfield Real Estate Finance Services Limited • Arbuthnot Latham & Co. Limited • NatWest PLC • Julian Hodge • BLG Development Finance Limited • Roundshield LLP • Close Brothers Property Finance PLC
Mark has acted as Monitoring Surveyor for the lender on schemes up to £100m, which is why we know what a Monitoring Surveyor will accept on yours.
Mark is always available when required and happy to go that extra step for you. He has produced some excellent MS reports for us which were thorough and detailed and which always added value.
John Buss, Head of Transaction Execution
HOMES ENGLAND
Regulation and insurance
QSetc Limited is regulated by RICS. Professional indemnity insurance is maintained in accordance with RICS requirements, and a certificate is provided with every appointment.
Gathering, checking and issuing the information required by Monitoring Surveyors and development funders, on behalf of borrowers and developers across the UK.