Revolution Brokers manages hundreds of development finance applications, and submitting a thorough application with all supporting documentation means a far higher chance of approval.

Any gaps in application paperwork or figures that don't include a breakdown of how they have been calculated are all red flags that the development hasn't been thoroughly planned out, and therefore poses an unacceptably high risk.

Our team assesses each application before submission to ensure it contains all the relevant information and will be easy for the lender to approve. It is a crucial step to improve your approval chances and ensure you are offered more competitive rates!

In this guide, we explain all the crucial paperwork you'll need.

For more assistance with submitting a successful development finance application, give us a call on 0330 304 3040 or drop an email to info@revolutionbrokers.co.uk.

Planning Permission for Commercial Development Finance

Planning application or permission information will help a lender get a better idea about the viability of the development.

You can also include a link to the planning portal.

Development plans without planning permission are challenging to finance since the lender needs some assurance that you'll be allowed to proceed with your development work once you have the requisite finances in place.

Speak to your local council or planning authority if you depend on approval to proceed, as an indication in principle is beneficial if you cannot apply for planning permission in advance of your development finance application.

Plans and Site Drawings for a Development Finance UK Application

By including thorough site plans, the lender can visualise the project and assess the accuracy of the calculated costs.

The more accurate and detailed your site drawings, the more information available to the lender. They'll look at the layout, materials, design and complexity of the build to evaluate whether the budgets look appropriate for the scale of development.

It is highly advisable to use a professional architect or conveyancer to assist with your site plans.

Insufficient or inaccurate drawings will impede your chances of development finance approval. They may miss essential factors such as existing piping that will require extensive groundwork before your work can begin.

Planning Restrictions Impact on Development Exit Finance

If there are restrictions against what you can build or what materials you can use, identifying them at the application stage is beneficial.

Lenders will also need to know whether there are Community Infrastructure Levies payable. CIL payments make a substantial difference, as if the levy is high, it will impact the final profit.

Some regions have strict rules about materials used, particularly in ecologically protected areas, Areas of Outstanding Natural Beauty, or areas with a high proportion of listed buildings.

Researching the planning restrictions is vital since many towns have regulations protecting certain species or legislating new property builds. Hence, it's essential your lender can see that your build is fully compliant with all restrictions in place.

Costs and Budgets - Development Finance Calculator

You will need to include highly detailed budgets and not just an overall cost figure. The more detail, the better, and if this can be broken down into months or stages, all the more sufficient.

General overall costings aren't likely to be accepted since there is a high risk that the lender won't have enough information to evaluate the viability of your budget.

Suppose you do use total figures in any part of your application. In that case, it's wise to attach breakdowns and evidence or quotes to support those estimates and ensure the lender can see they have contingencies included to account for any unforeseen expenses.