Insights Archives - London Belgravia Surveyors

Professional Consultants Certificates: A cost effective solution for developers…

April 26, 2017/in Insights /by LBS

We were recently approached by a regular client regarding their development project in central London looking to provide the comfort needed for future purchasers to raise a mortgage.

This high-value conversion project comprised of both commercial and residential space.

We were instructed to carry out site inspections in order to provide a Professional Consultants Certificate (PCC) for the residential element of the project.

The project was a factory being converted into luxury apartments including a ground floor and basement duplex apartment. The residential element is valued at £12 million over four flats and is due for completion in mid 2017.

We were taken on when the project was part-complete with our client seeking a solution that would allow the future purchases of the residential units to raise finance against the properties.

Many providers of PCCs and Architects Certificates do not provide services on part-completed projects, however London Belgravia Surveyors are able to cover such projects retrospectively on a case by case basis after assessment by our team.

Due to the fact that the project was part-completed, the premium required for a structural warranty had increased significantly and therefore did not prove cost effective.

The PCC product we delivered resulted in a saving of around 60% for our client compared to the cost of a building warranty.

Because our Professional Consultants Certificates being recognised by the Council of Mortgage Lenders, the lender acceptance rate is comparable to that of a warranty.

There are a few small, independent architects and surveyors who carry out PCCs in additional to their major business streams. The problem with them is that you are often a secondary consideration alongside their bigger clients and prioritised projects and you often will not receive the level of service you should expect.

We offer a specialist independent monitoring service delivering professional consultants certificates and providing comfort to you clients / lenders that there is an impartial organisation involved in the project management of the development.

If you would like to discuss your project and find the most cost effective and suitable solution for your situation, please feel free to contact us on

Tel 0203 701 0420

www.lbsurveyors.london

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Changing the face of property development monitoring…

January 10, 2017/in Insights /by LBS

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London Belgravia Surveyors are a firm of surveyors that radically reduce your costs on surveyor fees by combining the surveying functions into a one stop service. We save the developer considerable overlap of effort and expenditure.

By delivering a holistic surveying service where our clients can source all their needs in one place dispensed by one surveyor we save you considerable time and money.

Key Services

• Professional Consultant’s Certificates
• Building Control
• Bank Monitoring
• Energy Performance Certificates
• Standard Assessment Procedure

Key Benefits

• Complies with the Council of Mortgage Lenders guild lines
• Accepted by the majority of Lenders
• We can upgrade you to a full Building warranty if needed
• Speed of service – we can carry out all the necessary work in days not weeks
• Cost effective – Certificates are usually more cost effective than a full warranty

Through our use of bespoke software, we are able to reduce the cost of monitoring the works whilst increasing the level of oversight.

Our professional consultants certificate allows developers to prove that they are building to the correct standards for both development finance lenders and high street banks for mortgage purposes.
We (our chartered surveyors) monitor the works throughout the build period reporting back to the client and the lender with any issues or remediation’s there may be.
At the end of the build we issue the certificate and the developer can use this as proof to mortgage companies that the work has been carried out to the correct standards in line with Building control.

Case study

A conversion of an old factory into 4 luxury flats that are to be sold. The Post work reinstatement value is £7,776,000, Build cost: £ 4,246,000 and GDV: £ 12,000,000.00.
The project had well recognised project managers, quantity surveyors and architects working on it.

All technical information was made available and was analysed and approved by our building surveying team.

A quote for a building warranty had been sourced and was £81,872.00

We advised the client that a Professional consultants certificate would be the most cost effective solution and indicated a price that was £37,000.00, this included building control along with EPC & SAPs

The client decided to go ahead with our service based on lender acceptance and cost.

If you would like to find out more information about how we can help you save money on your project, please call 0203 701 0420 email info@lbsurveyors.london
www.lbsurveyors.london