Why Choose Us?
Unique Monitoring Service
We provide a unique monitoring service covering a variety of property development and refurbishment projects.
We can be engaged at the pre-completion stage of the loan to conduct a site visit and to meet the customer where we will discuss the project and ascertain details of the planned works and schedule of costs etc. We can then attend periodically at a frequency agreed by Lender and customer, to report on progress as staged payments become due. From application to project finish, we help monitor the project effectively and report on everything along the way, with detailed reports, photographic evidence, and video walkthroughs of the site.
We can tailor any aspect of this service to provide bespoke progress reports that monitor the development as and when they are required. Our rapid response times are well suited to the short-term lending market, with our national force of Field Agents ready and able to arrange visits within 24 hours of instruction.
How This Can Help You
Our monitoring service provides a unique alternative to engaging chartered quantity surveyors or qualified building surveyors. We ensure you have all the information you need throughout the development or refurbishment project – our reports are fully detailed, easy to use and contain a full picture of the project with photos and videos of the property. We get to know all parties involved from the initial visit through to the drawdown/interim reporting, and then finally at the close with the exit and completion of the loan.
Pre-Completion or ‘Initial’ Visit
Meeting the Applicant/Borrower and assessing their project
Pre-completion report includes meeting the Applicant(s) and viewing the security. To ensure the project is realistic, we review the Applicant’s plans, schedules of costs and permissions, as well as finding out if all relevant regulations, surveys, warranties and insurances are in place. We check the purpose of the loan and ask questions about the proposed schedule over the term and exit to ensure it is both feasible and plausible.
If the transaction is intended to facilitate a purchase, then we will check the existence
and source of the deposit. By looking at the security, we will confirm that it is used
for the purpose claimed and that it is likely to make a suitable and saleable security,
with a price comparison and opinion if possible. We provide full photographic and video walkthroughs of the site to give a picture of the condition of the property and the stage the construction has reached before works commence, alongside the plans provided. We provide rapid response times, suited to the short-term market.
Drawdown reports and interim visits
Checking the progress of the project and facilitating drawdowns of funds
An interim visit can be requested at any time between completion of the loan and end of term. Sometimes this means regular visits to assess the viability of a drawdown request or to provide a status report, at intervals decided on between lender and customer. Lenders are keen to know whether the work has commenced, and it is in-line with the stated purpose of the loan, planning and the proposed schedule and exit.
We visit the property and meet the customer again to provide an update with photographs and video to verify the purpose of the loan from the pre-completion report. Our agent will
confirm the status of the project in-line with the initial application, such as suitable
planning, surveys and regulations and provide a narrative on the works completed so far with detail of any outstanding works. A comparison of the costs incurred is then undertaken detailing how much is remaining and comment on whether this adds up.
If drawdowns are requested, we ensure these are verified and are intended for the correct stages in the project timeline. We obtain copies and liaise between customer and lender to ensure a timely release of funds.
Arrange the visits within 24 hours of receiving the request and report back promptly.
Tailor reports to your exact requirements.
FIBA are delighted to work with nci Resources as a Professional Partner, where they are thorough in their approach, offer excellent customer service to our members and underpin a wide range of transactions across the sector. They are thoroughly deserving of the FIBA Professional Partner award and we look forward to continue working with them in the future.