DPT Monitoring Surveyors has unveiled Rapid Reports, a streamlined alternative to full Due Diligence and Monitoring designed to help lenders and developers accelerate drawdown decisions on refurbishment and light redevelopment projects of up to £500,000.
The new service delivers the same core due diligence standards as a traditional report but with a turnaround time of under 24 hours from inspection. It can be carried out either virtually or in person, supported by a formal Service Level Agreement guaranteeing next-day delivery.
Rapid Reports have been developed in response to growing demand from short-term and development finance lenders seeking faster release of funds on smaller loans.
They are applicable where a lender has already decided to proceed, and the borrower’s track record removes the need for a full initial report. Once lending terms are agreed, DPT continues to monitor each project in line with the lender’s specific conditions.
LOAN PROGRESSION
The product offers both a cost and time advantage while maintaining compliance with standard lending requirements. Its design reflects an increasing appetite in the sub-£500k market for data-driven, risk-managed solutions that allow lenders to move more quickly without compromising control.
Tim Coulston (main picture, inset), Managing Director of DPT Monitoring Surveyors, says: “Historically lenders have required an Initial Due Diligence Report based on a site visit before deciding to lend, but under £500k there is a determination from many to get the funds released as quickly as possible.
“This is where Rapid Reports come in, using our extensive market experience and AI we are able to prepare a report covering all major factors in just 24 hours following the inspection, which ultimately allows the loan progression decision to be made with all the same information to hand.
“Coupled with the virtual visit option, Rapid Reports are the equivalent of AVMs for the project monitoring market.”
