Submitting a development finance application can be nerve-wracking; if you've set your sights on a project and been turned down for the borrowing you need, it can be a huge blow.

The trick is to ensure that all relevant information is included clearly and understandably. The fewer questions your lender is left with, the smoother the application process!

In this guide, we will explain our top tips for finance application approval. For further advice and assistance contact the Revolution Brokers team on 0330 304 3040 or email us at info@revolutionbrokers.co.uk.

Make Sure the Data and Figures are Accurate

It seems obvious, but it's common to use projections and estimates in a development finance application.

However, you need to:

• Use reliable, quantifiable estimates where exact figures are not known.
• Make sure all the figures add up - triple check your sums.

Multiple mistakes on an initial application significantly increase the chances of rejection, so check your data thoroughly.

Present your Application in an Understandable Way

If you are trying to explain budgets and figures, this needs to be laid out in a way that is simple to read. Scribbled notes, jumbled figures and vague descriptions are very likely to result in a rejection.

• Use a spreadsheet to present figures.
• Make sure drawings or illustrations are labelled and marked.
• Spell check your text and ensure it is accurate.