VAS Panel has launched a new service that utilises its valuation panel management platform to provide property and development finance lenders with national coverage of monitoring surveyors throughout the country.

The service, Project Monitoring, has been created by shortlisting existing valuation panel members who have internal building consultancy departments and can offer initial and interim project monitoring reports, improving speed and quality of all documentation.

VAS Panel suggested it will also allow joint agreement of all ongoing fees up-front and provides the lender with valuation, construction cost and risk advice throughout the loan cycle. All reports will include a VAS Executive Summary that will be added to the front of each report to provide the lender with a consistent reporting style.

To maintain quality control standards, VAS Panel indicated it will use the services of consultant, Chris Wilman, formerly of Naismiths, Currie & Brown and JLL. The group said he will provide an internal quality control service to provide consistency with their existing approach to valuation management.

VAS Panel is a division of the VAS Group and provides a full valuation panel management service to ensure the most relevant companies are instructed based on location, deal type and value.

VAS Group co-founder, Stephen Todd, commented: “Many of our network of panel firms have internal building consultancy departments, and we have brought these together to offer valuation, day one and interim monitoring reports with fees agreed upfront so the lender and borrower have agreed costs at the start of the process.

“This service line also encourages discussion between valuers and project monitoring surveyors and with the consistent sharing of valuable information as part of the advice which they provide.

“Our core values are to offer an excellent service and experienced surveyors to help reduced risk for our clients, the additional quality control function is an important part of the process.”

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