The VAS Panel offering finds shortlisted existing project monitoring panel members from its database who operate internal building consultancy departments and can offer initial and interim project monitoring reports.

Meanwhile, VAS Audit is designed to deliver development appraisals and project monitoring audits across the country with an average gross development value (GDV) of £2.5m.

The review service enables residential, commercial and development finance lenders to audit project monitoring reports prior to releasing funds.

The project monitoring services of both divisions were designed for land and buildings, ranging from new-build properties to a conversion through to a multi-phase site.

Stephen Todd (pictured), chief commercial officer and co-founder of VAS Group, said: “2021 was a landmark year for our project monitoring divisions, whereby we have reached a level of work that clearly shows we are trusted by lenders to support their development portfolios.

“As property development undoubtedly grows further in 2022 our hand-picked selection of nationwide monitoring surveying firms on VAS Panel will be able to assist in monitoring all development sectors and sizes.

“VAS Audit in particular will safeguard clients through independent auditing to provide greater confidence in their own monitoring reports in a sector that is undoubtedly higher risk, especially with increasing costs of materials, providing an additional layer of security to support underwriting and credit decisions.”