Professional Consultants Certificates: A cost effective solution for developers…
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