What documents are needed for development finance?
Development finance documents usually include planning documents, drawings, build cost schedule, programme, GDV evidence, valuation access, professional team details, developer experience, asset and liability statement, company documents and exit strategy.
Planning and drawings
Planning permission or resolution to grant is typically essential. Architectural drawings, floor plans and any required planning documents should be provided.
Cost plan and programme
A detailed build cost plan with contingency is usually required. A realistic programme with start and completion dates should be provided.
Professional team
Details of the architect, quantity surveyor, engineer and contractor should be provided. The professional team strength and experience may affect lender confidence.
GDV and comparable evidence
Gross development value is supported by market evidence, comparable sales and professional valuation opinion. This value determines the lending leverage.
Developer experience schedule
Details of the developer's previous schemes, track record and experience are typically required. This may include photos, details of similar projects and references.
Company and borrower documents
Company incorporation documents, shareholder details, director information and recent accounts are usually needed. Personal financial statements may also be required.
Exit route and sales evidence
The exit route should be documented. For pre-let schemes, occupier agreements or letters of intent may be needed. For speculative schemes, market evidence should support achievable sales.
FREQUENTLY ASKED
Frequently asked questions
Yes, lenders usually need detailed build costs and contingency before agreeing development finance.
Yes. Experience can affect lender choice, leverage and terms.
Usually yes for standard development finance. Pre-planning cases are more specialist.
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Results are indicative and depend on lender criteria, valuation, security, credit profile, exit route and full underwriting.
Results are indicative and depend on lender criteria, valuation, security, credit profile, exit route and full underwriting. Commercial finance may be unregulated. Some property finance can be regulated depending on borrower, property use and loan purpose.