Method Valuation UK launch new development finance monitoring service.
Published 22nd Nov 2021
What is Methods development finance monitoring service?
An extension to the Method xi system, the IMS service supports development finance lenders by adding the same efficiencies and expertise around development monitoring as Method currently provides around valuation procurement and process management.
The IMS service sources multiple quotations from suitably qualified professionals and presents them to the lender in a transparent and efficient way.
The software then allows a client to select a quotation, covering initial and periodic reports, and safely manages the development project through to completion.
Are there any charges?
The software is free to use for both lenders and surveyors, with no licence fees, management fees or set up costs.
The only charges relate the instruction of monitoring reports and payment processing fees should those services also be selected.
Method takes no cut of the fee quoted by the Independent Monitoring Surveyor.
What are the key benefits of the service?
Like all Methods offerings, the Method IMS service helps mitigate risk, drives efficiencies, and speeds up the process for everyone involved.
Method IMS ensures that only IMS practices that have the experience and ability to support a client’s development finance needs are instructed.
At the outset the most appropriate surveyors are asked to provide quotations for both the initial and periodic monitoring reports.
Our bespoke algorithms consider the individual lender’s criteria and the Independent Monitoring Surveyor’s predefined capabilities allow the system to select the most appropriate surveyors for any particular development.
A key risk to lenders is that an appointed surveyors may lack sufficient qualifications, experience or insurance to support the assessment of property developments. This can lead to an increased risk of loss should the advice provided be inaccurate or unreliable.
This service improves the way in which lenders can track the progress of the development projects that the fund therefore reducing credit losses.
Can Method IMS be integrated with your own systems?
Is this a stand-alone service?
IMS services can be deployed in isolation or in conjunction with our valuation panel, procurement and process management system.
Method xi – the cutting edge panel management software solution. Method guarantees a clear, consistent, and reliable valuation service that minimises risk to your loan book.
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