Lenders, Funders & Investors — Midlands & UK Monitoring Surveyor Services
Independent project monitoring for banks, development lenders, forward funders and investors. We give you a clear, objective view of cost, programme and risk before you commit funds, and every month after.
Overview
An independent view you can rely on
When you fund a development, you rely on the borrower’s team for information about cost, programme and progress. A monitoring surveyor gives you an independent view, so lending and investment decisions rest on evidence, not optimism.
We review the development before you commit, then report monthly on progress, cost, drawdowns and risk through to completion. Our reports are clear, concise and focused on what you need to decide.
We provide monitoring on residential, build-to-rent, commercial and mixed-use schemes for lenders, funders, investors and public bodies, led by a chartered surveyor (MRICS).
Scope of Services
What we do
Project monitoring from pre-funding due diligence to completion.
Independent Monitoring
Appointed by the funder to provide independent oversight of the development — reviewing construction progress, confirming that the scheme is being built as designed, and reporting objectively to the lending institution throughout the loan term.
Drawdown Certification
Assessment and certification of developer drawdown requests against the agreed cost plan and development programme. We verify that claimed costs are accurate, properly evidenced and align with works completed on site before recommending release of funds.
Risk & Progress Reporting
Regular structured reports to the lender covering construction progress against programme, cost performance against the agreed cost plan, risk events and developer compliance with loan conditions. Clear, objective reporting that protects the funder’s position throughout.
Cost Plan Review
Pre-loan appraisal of the developer’s construction cost plan — stress-testing assumptions, identifying cost risks and contingency adequacy, and advising the lender on whether the scheme is adequately funded before commitment is made.
Contractor & Contract Review
Pre-construction review of the proposed building contract, contractor financial standing and programme — advising the lender on the adequacy of protections, the robustness of the procurement and any conditions that should be placed on fund release.
Practical Completion Sign-off
Final site inspection and report confirming that the development has reached practical completion in accordance with the specification, that defects have been identified and that the funder’s security is unimpaired. The last formal checkpoint before the loan moves to the repayment stage.
Our Approach
How we monitor your investment
Due Diligence
We review the appraisal, budget, programme, procurement, contracts, consents and team, and report on the risks before you commit.
Initial Report
A clear report setting out our findings, recommendations and any conditions to be met before funding.
Site Monitoring
We visit site, meet the borrower’s team and review progress, quality and programme.
Drawdown Review
We assess each drawdown request against the work completed and the cost to complete.
Risk & Change
We flag changes, delays and emerging risks as soon as we see them, not at the next report.
Completion Report
We confirm completion, outstanding works and the final cost position.
Why October Projects
Why work with October Projects
Independent and objective
We have no interest in the outcome beyond giving you an accurate picture.
Cost and delivery expertise
Years of client-side cost and project management mean we know where budgets and programmes go wrong.
Clear, timely reporting
Reports that arrive on time and get to the point, with risks clearly stated.
See our Cost & Commercial Management and Strategic Advisory services.
Questions
Frequently asked questions
What does a monitoring surveyor do?
A monitoring surveyor acts for a lender, funder or investor, reviewing a development before funding and then reporting regularly on progress, cost and risk, including checking drawdown requests.
Who appoints the monitoring surveyor?
The lender or funder appoints them, although the cost is often recharged to the borrower. The monitoring surveyor’s duty is to the party that appoints them.
Is a monitoring surveyor the same as a project monitor?
Yes. Project monitoring, fund monitoring and monitoring surveyor are terms used for the same independent role.
How often do you report?
Usually monthly, in line with the drawdown cycle, with an initial report before funding and a completion report at the end.
Do you work outside the Midlands?
Yes. We’re based in the West Midlands and act on projects across the UK.
Further reading: What does an Employer’s Agent do? · JCT or NEC: which contract is right for your project?
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about your scheme.
We’ll bring the programme, the governance and the certainty. Get in touch to discuss your project.