Quantity Surveyor Reports for Bank Loans

Has your bank requested a "Quantity Surveyor Report" as part of your residential construction loan application?

It is becoming increasingly common for banks, mortgage brokers, valuers and other financial institutions to request a Quantity Surveyor Report (QS Report) when assessing residential construction loan applications. These loans may be for owner-occupied new builds, investment properties or construction finance for builders and owner-builders.

A QS Report for bank financing is an independent and impartial assessment of the construction cost, prepared by a qualified Quantity Surveyor. It forms part of the lender’s due-diligence process and is used to support a loan application.

The report provides the lender with a detailed breakdown of construction costs, including materials, labour and all associated building expenses. Its primary purpose is to give the bank an accurate and reliable estimate of the project cost or a review of the builder’s quotation, helping the lender determine project feasibility and assess the level of funding it is prepared to offer. It also assists the bank in managing risk by identifying potential issues such as cost overruns, delays or other financial impacts.

We have extensive experience preparing reports tailored to the requirements of various lending institutions, including Westpac, RAMS, St. George, NAB, CBA, ANZ and others.

We can prepare detailed and accurate reports where:

• The project is a private residence (not a commercial project); and
• You have a signed builder’s contract and detailed builder’s quotation.

Please note: We no longer prepare progress claim assessments or reports, and we do not offer these services to owner-builders.

Contact us to discuss your requirements.