Development Finance Application Checklist: Documents You Need

Submitting an incomplete development finance application is one of the most common reasons deals stall or fall through entirely. In our experience arranging hundreds of facilities each year, roughly 40% of first submissions come back with requests for additional information. Every document request adds three to five working days to your timeline, and if the lender has to ask twice, you risk being deprioritised in favour of borrowers who present clean, fully packaged applications from the outset. A well-prepared application signals to the lender that you are an organised, professional developer who understands what is required and has done the preparatory work. That perception matters more than most borrowers realise.

The development finance market in 2026 includes over 120 active lenders across banks, challenger banks, specialist funds, and private credit platforms. Each has slightly different documentation requirements, but there is a core set of documents that virtually every lender will ask for. We have compiled this checklist from our direct experience working with lenders across the UK, covering schemes from £250,000 to £50,000,000 in gross development value. Whether you are a first-time developer or an experienced operator, treating this checklist as your pre-submission quality control process will save time, reduce friction, and improve the terms you are offered.

Before you begin gathering documents, it is worth understanding the logic behind what lenders ask for. Every document serves one of four purposes: proving the viability of the scheme, evidencing your ability to deliver it, confirming your financial standing, and satisfying regulatory and legal requirements. When you understand why each document is needed, you can ensure the information you provide directly addresses the lender’s concerns rather than simply ticking a box.

The first category of documents relates to the site itself and the planning status of your proposed development. At a minimum, lenders will require a copy of the Land Registry title and title plan for the site, the full planning permission decision notice including all conditions, and the approved planning drawings. If you are purchasing the site, you will also need a copy of the signed or draft contract of sale, along with evidence of the agreed purchase price. For sites acquired more than six months ago, some lenders will request an independent valuation to confirm current market value rather than relying on the historic purchase price.

Planning documents should include the officer’s report, the decision notice, a schedule of conditions, and approved drawings at a minimum. If any pre-commencement conditions have already been discharged, include the discharge notices. Lenders pay particular attention to conditions that must be satisfied before construction can begin, as these directly affect when the first drawdown can occur. In our experience, conditions relating to contamination surveys, drainage strategies, and construction management plans are the most common sources of delay. If you have already commissioned reports to discharge these conditions, include them in your application pack even if discharge has not yet been formally confirmed by the local planning authority.

For schemes where planning permission has not yet been granted, the documentation requirements expand significantly. You will need to provide the full planning application, any pre-application advice received from the planning authority, supporting documents such as design and access statements, flood risk assessments, and ecological surveys. Lenders willing to fund pre-planning schemes are more limited in number and will charge a premium, typically 1-2% higher on the interest rate, reflecting the additional risk. We generally advise clients to secure planning before approaching lenders unless there is a compelling reason to acquire the site immediately, such as competition from other buyers.

Your development appraisal is arguably the most important document in the entire application. It is the financial model that demonstrates your scheme is viable, and lenders will scrutinise every line. The appraisal should include the total project cost broken down into land cost, stamp duty land tax, build costs, professional fees, finance costs, sales and marketing costs, and contingency. It must also show the gross development value based on comparable evidence and calculate the projected developer profit as both a percentage of GDV and a percentage of total costs. Most lenders want to see a minimum 20% profit on GDV for residential schemes and 15% for commercial. For a detailed explanation of how to structure this document, see our guide on writing a development appraisal that lenders love.

The appraisal should be prepared using recognised software such as Argus Developer, ProDev, or a detailed Excel model that follows industry-standard conventions. Handwritten calculations on the back of an envelope will not suffice, even if the numbers are correct. Presentation matters because it signals professionalism. Include sensitivity analysis showing what happens to your profit margin if build costs increase by 10%, if sales values fall by 10%, or if the programme overruns by three months. Lenders will run these stress tests themselves, so demonstrating that you have already considered downside scenarios builds confidence in your application.

Supporting your appraisal with comparable sales evidence is essential. For residential schemes, provide at least three comparable transactions for each unit type, sourced from Land Registry data or local estate agents. The comparables should be recent, within the last twelve months if possible, and located within a reasonable distance of your site. If your scheme targets a premium price point, explain why with reference to specification, location advantages, or market positioning. Lenders are naturally sceptical of optimistic GDV assumptions, so conservative, well-evidenced figures will always serve you better than aspirational ones.

Lenders need confidence that your build cost estimates are realistic and that you have a credible plan to deliver the construction works. The minimum requirement is two competitive contractor tenders for the full scope of works, although three quotes are preferred and some lenders insist upon them. Each tender should be based on the same specification and scope of works document to ensure a meaningful comparison. If you are using a quantity surveyor to prepare a cost plan, the QS report can sometimes substitute for one of the tenders, but most lenders still prefer to see at least two contractor prices alongside any QS estimate.

The build cost breakdown should be detailed enough for the lender’s monitoring surveyor to verify progress against specific work packages. A single lump sum figure of £1,200,000 for construction is insufficient. The breakdown should cover preliminaries, substructure, superstructure, internal finishes, mechanical and electrical installations, external works, and any specialist items. For a scheme with a total build cost of £800,000 to £3,000,000, this level of detail is standard practice and expected by every institutional lender we work with.

In addition to cost evidence, lenders will want information about your chosen contractor. This includes their company registration details, evidence of appropriate insurance cover including public liability and employer’s liability, examples of similar completed projects, and at least two trade references. If the contractor is a limited company, lenders may also request recent filed accounts. For design-and-build contracts, provide a copy of the draft or signed contract, as lenders take comfort from the contractual obligations this places on the contractor. We have seen applications succeed where the developer had limited personal experience but appointed a contractor with an excellent track record, so do not underestimate the importance of this part of the application.

Development finance applications require full disclosure of your personal and corporate financial position. For individuals, lenders will typically require the last three months of personal bank statements, the most recent P60 or SA302 tax calculation and tax year overview, a personal asset and liability statement, and proof of identity and address. For limited companies, which are the borrowing entity in most development finance transactions, lenders need the last two years of filed accounts where available, the latest management accounts if the filed accounts are more than nine months old, and confirmation of the company’s shareholders and directors.

Proof of equity is a critical document. Lenders need to see that you have the cash deposit available to contribute to the project. This is typically evidenced through bank statements or investment portfolio statements showing the required funds. For a scheme requiring £500,000 of developer equity, the lender will want to see this amount clearly available in accounts controlled by the borrower. If your equity is coming from multiple sources, such as personal savings, retained profits from previous developments, or a contribution from an investment partner, each source needs to be separately evidenced and explained. Gift letters or loan agreements may be required if any of the equity is being provided by a third party.

If you are borrowing through a special purpose vehicle, which is common practice for development finance, the lender will also require the SPV’s certificate of incorporation, memorandum and articles of association, and confirmation of the shareholding structure. Personal guarantees from the directors or shareholders of the SPV are standard for most development finance facilities, particularly for schemes below £5,000,000 in GDV. Be prepared to provide personal financial information for all guarantors, not just the lead applicant.

Lenders want to know that you have assembled a competent professional team. At a minimum, you should provide details of your architect, structural engineer, employer’s agent or project manager, and solicitor. For each professional, provide their contact details, professional accreditation, and evidence of professional indemnity insurance. The architect should be registered with the Architects Registration Board, structural engineers should be chartered members of the Institution of Structural Engineers or Institution of Civil Engineers, and your solicitor should be regulated by the Solicitors Regulation Authority.

Insurance is an area that catches many developers out. You will need to have, or commit to having in place before drawdown, contractor’s all risks insurance covering the full reinstatement value of the works, public liability insurance of at least £5,000,000, and employer’s liability insurance if you have any direct employees or labour-only subcontractors. Some lenders also require latent defects insurance or structural warranties, particularly for residential schemes where the end buyers will need mortgage lender-approved cover. We recommend discussing insurance requirements with a specialist construction insurance broker early in the process, as arranging appropriate cover can take two to four weeks.

For larger schemes above £5,000,000 GDV, lenders may also request a formal project execution plan, a detailed construction programme in Gantt chart format, and a health and safety plan. These documents demonstrate that you have thought through the practicalities of delivering the project and are not simply hoping for the best. If you do not have experience preparing these documents, your project manager or contractor should be able to provide them. Submit your complete application pack through our deal room for an initial assessment within 48 hours.

The most frequent mistake we see is submitting outdated information. Bank statements should be no more than three weeks old at the time of submission. Company accounts should be the most recent available. Planning documents should reflect the current permission, not an earlier version that was subsequently amended. Lenders will check dates, and outdated documents create unnecessary delays and can raise questions about why current information has not been provided.

Another common error is inconsistency between documents. If your development appraisal shows build costs of £1,800,000 but your contractor tender totals £1,650,000, the lender will ask questions. If your planning permission is for eight units but your sales schedule shows nine, that is a problem. Before submitting, cross-reference every document to ensure the numbers, unit counts, floor areas, and timelines are consistent throughout. We recommend having a colleague or adviser review the complete pack before submission as a final quality check.

Finally, do not forget the basics. Every page of every document should be legible. PDF scans should be clear and properly oriented. Documents should be logically organised, ideally in a numbered folder structure that mirrors the lender’s checklist. A well-organised submission is easier and faster for the lender to process, and in a busy market where credit teams are working through multiple applications simultaneously, making their job easier directly benefits you. For a full understanding of the timeline from application to drawdown, read our guide on the development finance timeline.