Hidden Costs

Ensuring your due diligence is thorough

We have had a few projects recently where the borrowers have tried to cover shortfalls themselves often putting financial stress on both the project and themselves. The lenders and monitoring surveyors rely on honesty and transparency and simply engaging with them at the earliest stage can often lead to a resolution, lower stress and no jeopardising of the project.

What is the reason for a cost over run? Was it human error? Was it something that building Control sprung on you such as post Grenfell Tower? If a cost overrun has occurred then there may be a chance for some value engineering or at least dealing promptly and efficiently with the issue to avoid it escalating. 

Don’t be afraid to engage with the advisors and lenders. They are human too and early engagement is better for everyone  - “A problem shared is a problem halved”

Get in touch to see how we can help.