Services
Development monitoring for residential funders and lenders
Written by Jack Swingler MRICS, Founder and Director
When you fund a residential scheme, you need someone independent watching cost, programme, quality and drawdown on your behalf. Momentm monitors schemes for funders and lenders: we check each drawdown request against the work done and report every month in a RICS LIMS-aligned format, so you always have a clear view of delivery risk.
Why drawdowns go wrong
Most drawdown problems start because everything is checked at the last minute. The valuation, the cost to complete and the contract position are pulled together the week the money is needed, so a problem surfaces when it's hardest to fix.
We work the other way. Every date, test and obligation in your agreement goes into one monitoring plan before the first drawdown. Each month we test the cost to complete against the facility left to draw, so a funding gap shows up months before the last drawdown, not at it. Where a condition hasn't been met, such as grant that hasn't arrived, we can recommend capping the drawdown until it's in and evidenced.
Who appoints us
- Funders and forward funders putting capital into residential schemes.
- Lenders who need an independent report before releasing each drawdown.
- Fund managers who need oversight of a developer's delivery without running the scheme themselves.
What monitoring covers
- A review before funding: the appraisal, programme, contracts, planning position and the developer's team.
- A monitoring plan: every date, test and obligation in your agreement, in one place before the first drawdown.
- Regular site visits, with a monthly report on progress, cost and programme against the agreed baseline.
- Drawdown checks: each payment request tested against the work in place and the cost plan, and the cost to complete tested against the facility left to draw.
- Quality and compliance: warranties, building control and planning conditions tracked as the scheme is built.
- Risk reporting: what could affect your position, and what to do about it.
- Completion: support through practical completion and handover.
Independence
We act for the funder. Our appointment sets out the scope, who we report to and how any conflict of interest is handled, and we declare any potential conflict before we're appointed. If we're also asked to manage delivery on the same scheme, the appointment says so and the funder agrees it in writing first.
Who does the work
Monitoring is led by our senior team, three of whom are chartered surveyors (MRICS). Rob Try has worked as a funder, consultant quantity surveyor, project manager and employer's agent, so he reads a scheme the way a funder does.
Recent work
Clapham Park, Lambeth
122 shared ownership homes, £53m GDV. On a contractor-led, multi-phase regeneration, we act client-side for Thriving Investments, representing the fund's interests through every phase. Led by Rob Try.
Read the case studyCommon questions
What does a monitoring surveyor do for a funder?
We check what you're being told before you pay, draw by draw, against your own agreement: that the scheme is being built to programme, budget and quality, that each drawdown matches the work done, and that what's left will finish the job.
How often do you report?
Every month, in step with the drawdown cycle. Anything that changes your risk is flagged when we find it, not saved for the next report.
What's the difference between a monitor and a development manager?
A monitor certifies the draw. A development manager runs the scheme in between, working the agreement, the programme and the contractor every day. Funders often need both, and we provide either.
Can you monitor a scheme you didn't review before funding?
Yes. We start with a review of where the scheme stands (contracts, programme, cost and planning) and report from there.
Related services
Tell us about your scheme, the structure and the support you need. We'll discuss where we can help.
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