Why Does the Bank Require a QS Report Before Releasing Construction Funds?
When a residential development is bank-funded, an independent quantity surveyor reviews costs and monitors progress. Here is what the Bank QS actually checks.
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An independent assessment of budget, costs and progress for bank-funded residential projects.
Registered quantity surveyors with local knowledge of New Zealand building costs and attention to detail.
Our team of experienced quantity surveyors brings 28 years of combined experience: 14 years international in Dubai, UAE and 14 years in Auckland, NZ. We provide fast, accurate and reliable QS reports, backed by local knowledge and attention to detail.
Trusted by banks, developers, and homeowners for clarity, accuracy, and timely reporting.
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When a residential development is funded by a bank or lender, an independent Quantity Surveyor may be appointed to review the construction costs and monitor the progress of the project.
During construction, QS drawdown reports provide the lender with an independent assessment of the work completed before further construction funds are released. Good cost monitoring throughout the project can help identify potential budget issues early and support smoother progress drawdowns and informed funding decisions.
QS Consultants provides a range of specialised services to help homeowners, builders, and developers plan and manage costs.
Construction costs change over time, and an outdated rebuild value may leave a property inadequately insured.
QS Consultants provides independent Insurance Rebuild Estimates for residential homes, multi-unit developments and investment properties. Our assessments consider the key costs associated with rebuilding, helping property owners and insurance professionals establish an appropriate rebuild value for insurance purposes.
Clarity, accuracy and timely reporting on every project.
Transparent pricing with no hidden costs.
Hundreds of projects completed across NZ.
Fully compliant with NZ building codes and market rates.
Informed at every stage, no surprises.
Tell us about your project. We confirm a fixed fee, with no hidden costs.
We send a tailored list of the documents we need within 2 days of your request.
We review the budget, contract, costs and progress, and raise questions early.
Your report is completed as soon as possible and issued in the format your lender or insurer needs.
Omkar AnguralaDirector, Reg. QS
Omkar founded QS Consultants Limited in 2018 after more than 20 years of quantity surveying experience around the world, including more than 12 years in New Zealand.
Our key focus is to help clients, consultants and contractors avoid financial risk throughout their construction projects, by making sure they are well informed about how, why and where the money is being used.
When a residential development is funded by a bank or lender, an independent Quantity Surveyor may be appointed to review the construction costs and monitor the progress of the project. The report gives the lender independent assurance that the budget is sound and that funds are released against work actually completed.
Typically the construction budget and fixed-price contract, costs already incurred and remaining costs to complete, progress of construction against the amount being claimed, approved variations and other project costs, and whether sufficient funding remains to complete the development.
We work with banks and lenders, developers, builders, homeowners and owner-builders, and insurance professionals.
Yes. We are independent quantity surveyors. We do not build, develop or sell property, which keeps our assessments objective.
We work with projects across New Zealand, with local knowledge of NZ building codes and market rates.
Call us on +64 22 050 2939, email info@qsconsultants.co.nz or complete the enquiry form on our Contact page. We will confirm a fixed fee before work starts.
When a residential development is bank-funded, an independent quantity surveyor reviews costs and monitors progress. Here is what the Bank QS actually checks.
Read articleA plain-English walk-through of what happens between a builder's progress claim and the lender releasing the next payment.
Read articleConstruction costs change over time, and an outdated rebuild value may leave a property inadequately insured. Here is what to check.
Read articleWhether you are a homeowner, developer, or builder, our QS team provides independent, accurate, and professional reports. Tell us about your project and we will confirm a fixed fee before any work starts.