Final answer:
A quantity surveyor has two roles when acting for the lender in development financing: assessing the feasibility and cost of the project, and monitoring and controlling costs during the construction phase.
Step-by-step explanation:
When acting for the lender, a quantity surveyor has two important roles in development financing. The first role is to assess the feasibility and cost of the proposed development project. This involves evaluating the project's budget, estimating the construction costs, and identifying any potential risks or challenges that may affect the lender's investment.
The second role is to provide ongoing monitoring and control of costs throughout the construction phase. The quantity surveyor ensures that the project stays within budget, tracks expenses, and identifies any changes or variations that may impact the lender's financial position. They also provide regular progress reports to the lender, ensuring transparency and accountability.