Developer Tips10 min read

Development Finance Application Checklist for Manchester Projects

Everything you need to prepare before applying for development finance in Manchester — documents, information, and the common mistakes that delay applications.

By Construction Capital•2 October 2025

The Complete Application Checklist

A well-prepared development finance application can be approved in days. A poorly prepared one can take months — or be declined entirely. This checklist covers everything you need to assemble before approaching lenders for a Manchester development project.

Section 1: The Developer

Lenders assess the developer as thoroughly as the project. Prepare the following:

Personal Documents

[ ] CV or biography highlighting property and construction experience

[ ] Schedule of completed projects with financial summaries (purchase price, build cost, sale price, profit)

[ ] Personal Asset and Liability Statement (net worth statement)

[ ] Last 3 years' bank statements (personal and business)

[ ] Proof of equity funds (savings, investments, or committed facilities)

[ ] ID and proof of address

Company Documents (if applicable)

[ ] Certificate of incorporation for the SPV (Special Purpose Vehicle)

[ ] Last 2 years' filed accounts for any existing development companies

[ ] Details of directors and shareholders

Section 2: The Site

Acquisition Details

[ ] Site address and title number(s)

[ ] Agreed purchase price and heads of terms or exchange contracts

[ ] Site plan and title plan

[ ] Any existing tenancies or occupiers

Site Condition

[ ] Structural survey (for conversion projects)

[ ] Environmental/contamination report (for brownfield sites)

[ ] Flood risk assessment (if in a flood zone)

[ ] Asbestos survey (for commercial buildings)

Section 3: The Scheme

Planning

[ ] Planning permission or prior approval (or application reference if pending)

[ ] Planning drawings (site plan, floor plans, elevations, sections)

[ ] Planning conditions schedule (showing any pre-commencement conditions)

[ ] Section 106 agreement (if applicable)

Design and Specification

[ ] Architect's drawings to at least RIBA Stage 3

[ ] Specification document (fixtures, fittings, finishes)

[ ] Unit schedule (type, size, and proposed sale price for each unit)

Build Programme

[ ] Gantt chart or programme showing key milestones

[ ] Start date and projected practical completion date

[ ] Phasing plan (if the scheme is delivered in phases)

Section 4: The Numbers

Development Appraisal

[ ] Professional development appraisal (ideally using Argus Developer or similar)

[ ] GDV supported by comparable evidence (minimum 5 comparables)

[ ] Build cost schedule (ideally a QS cost plan or fixed-price contractor quote)

[ ] Professional fees schedule (architect, structural engineer, QS, solicitors, etc.)

[ ] Finance cost assumptions

[ ] Contingency (minimum 5% for experienced developers, 10% for first-timers)

[ ] Profit analysis showing return on cost, return on GDV, and return on equity

Contractor Information

[ ] Contractor name and contact details

[ ] Contractor's completed project references

[ ] Contractor's accounts (last 2 years)

[ ] Insurance certificates (public liability, employer's liability, contractor's all risks)

[ ] Fixed-price build contract or letter of intent

Common Mistakes That Delay Manchester Applications

Insufficient Comparable Evidence

Providing only two or three comparables when the lender needs five or more. Focus on recent sales (within 6 months) within 500 metres of your site. Areas like Ancoats and Salford Quays have abundant evidence; less established areas require more effort.

Unrealistic Build Costs

Understating build costs to inflate the profit margin is counterproductive. The lender's QS will identify unrealistic costs during due diligence, leading to a revised (lower) facility or a declined application.

Missing Pre-Commencement Planning Conditions

Your planning permission may have conditions that must be discharged before construction can start. Lenders will not allow drawdown until pre-commencement conditions are satisfied. Identify these early and start the discharge process.

Incomplete SPV Setup

Most lenders require the borrowing entity to be a clean SPV with no existing liabilities. Set this up before applying for finance to avoid delays.

Submitting Your Application

Once your checklist is complete, submit everything to us and we will package your application for the most appropriate lenders on our panel. With a complete application, we typically issue indicative terms within 24 to 48 hours.

Senior development finance, mezzanine finance, and other products are all available through our panel of 60+ lenders.

Use our development finance calculator to refine your numbers before applying, or contact us to begin the application process.

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