The essential documents
Every development finance application requires a core set of documents. Having these ready before you approach lenders dramatically speeds up the process and improves your chances of approval. Here's the complete list, in order of importance.
1. Planning permission
What: The full planning permission or detailed consent for your proposed development, including any conditions, Section 106 obligations, and CIL assessments.
Why it matters: This is the document that tells the lender what can be built on the site. Without planning, the development is speculative and most lenders won't proceed. Full planning gives certainty; outline planning is acceptable but limits options.
2. Build cost schedule
What: A detailed breakdown of construction costs by category — substructure, superstructure, finishes, M&E, external works, professional fees, and contingency.
Why it matters: Lenders benchmark your costs against BCIS data and their own experience. A detailed, realistic cost schedule shows you've properly scoped the work. Ideally from a QS or based on actual tender returns.
3. Development appraisal
What: A financial model showing total costs (land + build + fees + finance), Gross Development Value, profit, and key ratios (LTC, LTGDV, profit on cost).
Why it matters: This is the financial case for the deal. Lenders use it to assess whether the margins are sufficient and the ratios fall within their parameters. AI platforms like Assesr generate this automatically from your uploaded documents.
4. Comparable sales evidence
What: Recent completed sales (not asking prices) of similar properties in the local area — same type, similar size and specification.
Why it matters: This validates your GDV assumptions. Lenders will cross-reference your projected sales values against actual market evidence. The stronger your comparables, the more confidence the lender has in your numbers.
5. Company accounts or personal financial statement
What: If borrowing through an existing company: 2–3 years of accounts. If through a new SPV: personal financial statements and asset/liability schedules for the directors.
Why it matters: Lenders assess the borrower's financial standing and ability to cover any equity contribution or cost overruns.
6. Borrower CV / track record
What: A summary of your development experience — completed projects, sizes, values, and outcomes.
Why it matters: Experience is one of the top factors in lender decisions. A clear track record of completed projects of similar scale significantly improves terms and approval likelihood.
7. Site information
What: Site plan, title plan, architectural drawings (floor plans, elevations), and site photographs.
Why it matters: Lenders need to understand the physical site, what's being built, and how the units are configured.
8. Proof of identity and address
What: Passport or driving licence, plus utility bill or bank statement for each director/guarantor.
Why it matters: Standard KYC/AML requirements that every regulated lender must complete.
The faster way to submit
Instead of manually organising these into a credit paper, upload them to Assesr. The AI extracts data from all your documents, generates a standardised credit paper, flags anything missing, and sends the packaged deal to matched lenders — in 60 seconds instead of weeks.