Terracotta expand Independent Monitoring Services
Terracotta continue to expand our Independent Monitoring Services. Leveraging both our Project and Valuation expertise we provided clients with accurate and timely advice that help de-risk projects and protect their interests.
We are delighted to currently be working with Mint Finance to provide monitoring services across a number of their schemes including the proposed construction of a three bedroom house within a garden plot in Kent. Terracotta have undertaken a detailed initial audit providing an examination of the proposed project, the competency of the Borrower and their project teams and highlighting any risks that might impact the lending decision. Subject to funding approval, our subsequent monitoring reports will ensure our Mint Finance are kept up to date with progress and can be sure that funding drawdowns accurately reflect the works undertaken on site.
If you or your clients have any Independent Monitoring Surveying requirements pleased get in touch.
Our latest project for Mint finance involving this development site in Kent
Impartial oversight to safeguard your construction project’s quality, compliance, and progress
Terracotta Property’s Independent Monitoring Surveys provide unbiased, expert assessments of construction projects, ensuring risks are managed, contractual obligations are met, and lender interests are protected. Whether you’re a financial institution, developer, or investor, our RICS-regulated surveyors deliver rigorous oversight to keep your project on track, on budget, and aligned with industry standards.
OUR INDEPENDENT MONITORING SERVICES
1. Initial Due Diligence & Risk Assessment
We conduct a thorough review of your project’s feasibility, including:
Financial scrutiny: Appraising construction costs, cash flow, and funding adequacy
Design & procurement: Assessing contractor competency, design sufficiency, and procurement strategy.
Regulatory checks: Verifying planning conditions, warranties, and third-party agreements.
2. Construction Phase Monitoring
Regular site inspections and progress reports cover:
Programme adherence: Tracking milestones and critical path delays.
Quality control: Inspecting workmanship, materials, and compliance with specifications.
Health & safety: Auditing site practices against CDM regulations.
3. Drawdown Certification & Financial Oversight
Validate funding requests by:
Reviewing expenditure: Confirming costs align with the contract sum analysis.
Certifying drawdowns: Issuing lender-approved certificates tied to project milestones.
Monitoring contingencies: Flagging potential cost overruns or underutilized budgets.
When is a Party Wall Agreement required?
A Party Wall Agreement is required in the following situations:
Building or altering a shared wall – Any structural work to a wall that divides two properties.
Excavation near a boundary – Digging foundations or carrying out excavations close to a neighbouring property that might affect its structure.
Overhanging structures – Constructing a feature that extends onto a neighbour’s property, such as a canopy or balcony.