The difference between a development finance application that gets approved in 4 weeks and one that stalls for 3 months is preparation. Lenders are not difficult to deal with when they have what they need — but they are mercilessly slow when they don't. This checklist covers everything a development lender will ask for, in the order they'll ask for it. If you can tick every box before you approach a broker or lender, your application will move fast.
Full planning consent granted — or prior approval if using permitted development rights (Class MA, Class Q). Most lenders will not issue binding terms without consent in place.
Planning conditions reviewed — check whether any conditions need to be discharged before works can commence. Lenders will want to see that conditions won't delay the build programme.
Copy of the planning consent — the full decision notice, not just the approval letter. Include any Section 106 obligations or CIL liability.
Title documents — Land Registry title and plan for the site. If there are restrictive covenants or easements, flag them upfront.
Detailed development appraisal — land cost, build cost, professional fees, finance costs, contingency, and GDV. The appraisal should show LTGDV, profit on GDV, and profit on cost.
Line-by-line build cost breakdown — not a lump sum. Break costs down by stage: foundations, superstructure, M&E, first fix, second fix, external works. Include a 10% contingency minimum.
Comparable sales evidence (GDV) — at least 3-5 comparable sales within a 1-mile radius, ideally on the same street or estate. Include Land Registry data, agent listings, and sales agent commentary.
Profit margin check — confirm that profit on GDV is at least 20%. Below this threshold, most lenders will decline or require a larger developer contribution.
LTGDV calculation — total loan as a percentage of GDV. Confirm this is within the lender's maximum (typically 75% for experienced developers, 65-70% for first-timers).
💡 The most common reason applications stall: A lump-sum build cost with no breakdown. Lenders cannot underwrite a facility against a single number. If you don't have a line-by-line cost schedule, your application will sit on the credit committee's desk while they ask for more information. Get a QS or experienced builder to prepare this before you apply.
Developer CV / track record — a summary of previous schemes completed, including scheme size, value, location, and build duration. Photos and completion certificates strengthen the submission.
Builder / contractor details — name, track record, and relevant experience. If the builder has completed similar schemes in the same area, include those details. The builder's CV is almost as important as the developer's.
Project manager (if applicable) — for first-time developers, an experienced project manager can make the difference between approval and decline. Include their track record with similar schemes.
Personal financial statement — assets, liabilities, and liquidity. Lenders want to see that you can absorb a cost overrun without the project stalling. Demonstrate at least £50,000-£200,000 in liquid assets beyond your cash contribution (scale depends on scheme size).
Build programme / timeline — a month-by-month or stage-by-stage programme showing key milestones. Lenders use this to structure the drawdown schedule.
Drawdown schedule proposal — suggest how you'd like drawdowns structured (e.g., land purchase, then 4-5 build stages). The lender may adjust this, but showing you've thought about it demonstrates professionalism.
Monitoring surveyor awareness — understand that the lender will appoint a monitoring surveyor to certify each drawdown stage. Factor the monitoring surveyor's fees into your professional fee budget (typically £1,500-£3,000 per inspection).
Insurance arrangements — confirm you can arrange contract works insurance and public liability. Some lenders require the policy to be in the lender's name.
Primary exit documented — sale or refinance. If sale: provide a marketing timeline, expected sale prices per unit, and sales agent confirmation. If refinance: provide the target LTV, lender type, and income coverage calculation.
Fallback exit — a secondary exit strategy in case the primary one doesn't execute on time. For example: if the primary exit is a sale, the fallback could be a refinance onto BTL mortgages. A dual-exit strategy significantly increases lender confidence.
Exit timeline — realistic, with a buffer. If you expect to sell within 6 months of completion, state a 9-month exit window. Lenders prefer conservative timelines.
Exit cost evidence — if the exit is a refinance, include evidence that the target mortgage product exists and that you meet the criteria (income, credit, LTV).
💡 Pro tip: The exit strategy is the single most scrutinised element of a development finance application after the cost breakdown. A vague "I'll sell the units" is not an exit strategy. Named agents, comparable sales evidence, a timeline, and a fallback refinance — that's an exit strategy that gets approved.
Site photographs — current condition, all elevations, and any relevant context shots (neighbouring properties, access).
Architect's drawings and specifications — planning drawings at minimum, but building regulations drawings are better if available.
Structural survey or desktop study — if the site has ground conditions that could affect build cost (contamination, slope, poor bearing capacity), a preliminary ground report can prevent the lender's valuer from applying a conservative assumption.
Solicitor details — have a solicitor lined up who can act quickly. Delays in legal work are the most common reason completions miss their target date.
Broker summary — a one-page summary of the deal that the broker can present to lenders. This is what we prepare for our clients — it's the document that gets the lender's attention before the full submission.
If you can walk into a lender meeting — or a broker conversation — with planning consent, a line-by-line cost breakdown, a comparable evidence pack, a documented exit strategy, and a developer CV, you're in the top 10% of applicants. Most developers arrive with a purchase price and a rough build cost, and wonder why their application takes 8 weeks instead of 4.
The preparation is the differentiator. A complete application moves through the credit committee in days, not weeks. An incomplete application generates a cycle of information requests that can stretch the timeline to months — and in some cases, the lender loses interest before the file is complete.
Send us your checklist and we'll review it — no cost, no obligation. We'll tell you whether your scheme is financeable, what LTGDV and deposit to expect, and which lenders are the best fit. If anything on the checklist is missing, we'll tell you exactly what to prepare before you apply.
Submit Your Scheme