Frequently asked questions

Once you've your land/plot in place and a good estimation of the cost of development, it's time to call us or send us an enquiry. During the call, we'll discuss your financing requirements and find which lender best suits your individual needs.

We will require the following information (Some of this can be sent at a later date, but it's always best to have this prepared):

• A full market appraisal of the development
• The current value of your property/land if you own it
• A full cost breakdown for the development/renovation/conversion/build
• Details of any contingency plans and costs associated
• An expected timescale for the development/renovation/conversion/build
• The anticipated final value of the project
• Any experience the developer may have in projects, especially in property development.
• A list of professionals and specialists who will be involved in the project, e.g., building contractors, architects, site managers etc.
• Any planning permissions documents needed for the devel, build or renovation
• Copies of the building regulations for the development/renovation/conversion/build
• Planning restrictions or Section 106

Proverest Finance is a comparison site for development finance. Our algorithm compares your project requirements against more than 100 lenders.

We will present you with deal offers from some of the UK’s most reputable development lenders for you to choose. Once selected, we will contact you within 24 hours to start the funding process. Read more about how it works here

We can arrange 100% full development funding, including the cost of land, stamp duty, section 106 payments and any acquisition costs. Security is held on a subsidiary with a joint venture JV agreement with the borrower.

There is no personal guarantee required from the borrower, which helps alleviate any risk for the borrower and provides an opportunity for the developer/build contractor who lacked funding an opportunity to fund developments.

We offer a variety of repayment options for your development finance loan. Check out how does it work? for more info

We offer a full 100% debt and equity package with interest charged on funds drawn and a true 50/50 profit share with the borrower after total GDC (including finance costs).

Yes, this can be for any residential or commercial development subject to lender approval.

This contract between you and your builder will fix any costs that will be payable and will not change. Even in the event of additional or unexpected costs. This is beneficial for both the developer and builder as it allows the builder to charge higher fees. In turn, the investor will know upfront exactly the costs with no surprises. You will also find that development lenders are happier with fixed-price contracts and, therefore, more willing to lend.

• Outline planning permission - this application will negate the requirement for the prep of detailed plans for the development of land and conversion of properties. With outline planning permission, you can reserve one or a number of the following: design, siting, external appearance, means of access, and landscaping, until you apply for full approval. Outline planning permission is valid for 3 years but, in some cases, can be stretched to 5 years.
• Approval of Reserved Matters - Approval of Reserved Matters is required once the application of outline planning lays out any remaining details of the proposed development. You will need to make this application no later than 3 years after outline consent has been given.
• Full and Detailed Planning Permission - When developers are ready to proceed, they will be able to apply immediately but will be required to provide a very in-depth development plan. Once permission has been granted, the development can commence straight away. Please note that you will not need to apply for outline planning permission prior to applying for a DPP.
• Section 106 - Section 106 of the Town and Country Act 1990 permits authorities to enter into a planning obligation or legally binding agreement with land owners by granting planning permissions. Section 106 agreements address any essential issues to ensure development is viable in planning terms.

Complying with building regulations and ensuring you have the correct and relevant planning permissions is essential. You will need to contact your Local Authority Building Control Service to get the Building Regulation Approval.

This is of the utmost importance as you are completely responsible for complying with building regulations if you are doing the build yourself. However, if you are employing a professional building contractor to do the work, the responsibility should fall on them. But please be aware that it is ultimately the owner who is responsible and could serve with enforcement notices if it is found that any regulations were not adhered to.

At each point of the development process, it is a requirement that professional checks to safeguard that all building regulations have been observed and that any works have been completed to a satisfactory standard that meets requirements. This is normally done through the NHBC or your architect.

National House-Building Council. This is a provider of insurance and warranties for new homes that are completely independent.