Guide 03
Pre-Application
Checklist
Being prepared doesn't just speed things up — it gets you better terms. Here's everything you need before we approach a lender.
What you need ready
You don't need all of this on day one — but the more you can provide upfront, the faster and smoother the process will be.
A The Deal
Property address and description
What is it, where is it, what condition is it in?
Purchase price or current value
If purchasing, the agreed price. If refinancing, the current market value (your estimate is fine to start).
Loan amount required
How much do you need the lender to provide?
Purpose of the loan
Purchase, refinance, capital raising, refurbishment funding — what's the money for?
Term required
How long do you need the loan for? Remember: build in a buffer.
Any time pressure?
Auction deadline, exchange date, or other time-critical factors.
B Exit Strategy
How will you repay the loan?
Sale, refinance, or other source of funds. Be specific.
Evidence supporting the exit
If selling: comparable sales, estate agent appraisal. If refinancing: a DIP (Decision in Principle) from a mortgage lender. If other: evidence of the funds.
Realistic timeline for the exit
When will the property be sold/refinanced? Does this fit within the loan term?
C About You
ID and proof of address
Passport or driving licence. Recent utility bill or bank statement.
Source of deposit/equity
Where is the money coming from? Savings, sale of another asset, gift? Lenders need to verify this for anti-money laundering.
Any credit issues?
CCJs, defaults, missed payments, IVAs, bankruptcy — be upfront. Many lenders can work with imperfect credit, but surprises during the process cause delays and declines.
Borrowing entity
Which company is borrowing? An SPV (special purpose vehicle) or an existing trading or property company. Have the company details ready.
Assets and liabilities (A&L) statement
A schedule of what each director or guarantor owns and owes: properties, mortgages, other loans, car finance, credit cards. Include pensions and investments as assets. Lenders use it to see what stands behind a personal guarantee. Listing your home on an A&L is disclosure only. We never arrange lending secured on your home. (Glossary: A&L)
Gift letter (if any deposit money is a gift)
A signed letter from the person giving the money, confirming it is a gift and not a loan, with no claim on the property. Most lenders also ask for the giver’s ID and a bank statement showing the funds. (Glossary: gift letter)
Evidence of any name change
If your name differs between your ID and other records, bring the marriage or civil partnership certificate, the deed poll, or a statutory declaration. gov.uk explains how a deed poll works.
D Property & Security
Title details
Freehold or leasehold? If leasehold, how many years remaining?
Current use and proposed use
Residential, commercial, mixed-use, land? Are you changing the use?
Any existing charges?
Is there already a mortgage or loan secured against the property?
Photos
External and internal photos of the property. Even phone photos are fine at this stage — they help us present the deal to lenders quickly.
Property schedule
One line per property you or the company own: address, lender, outstanding balance, monthly payment and estimated value. Get current redemption statements for any property offered as extra security; balances are often higher than people think.
Rent roll that matches the leases
For let property: a unit-by-unit rent roll showing the rent passing under each lease, reconciled to the signed leases and to any agent’s particulars. Explain any difference before the valuer sees it, because valuers rely on the signed leases.
Schedule of accommodation (mixed-use and multi-let)
Each unit’s use and floor area. The valuer checks the residential/commercial split against it; see how a mixed-use loan is sized.
Planning history
Any refused applications or enforcement on the property, with the decision notices. See what a refused application means for the loan.
Occupation
Who is living in or using each unit, and on what basis. Sort out any informal occupation before the valuation.
Worked example: the brochure rent and the lease rent
Illustrative example. The figures are invented to show the mechanics. This is not a real deal and not an offer of terms.
An SPV with two directors is buying a let commercial building for £3.4m with a £2.5m bridge (74% of the price). The agent’s brochure shows rent of £204,000 a year. The signed leases show £192,000: one rent review was agreed by email and never documented.
The valuer values on the rent passing under the leases, not the brochure. At the same yield, about 6% less rent means about 6% less value: roughly £3.2m, so the same loan is now about 78% of value, and the lender asks for more equity or offers less.
What the checklist would have caught: a rent roll reconciled to the leases, with the review documented in a lease memorandum before the valuation, plus a property schedule showing the directors’ other mortgages, so the lender didn’t have to ask twice.
Wondering how long all this takes once it’s in? See how long a bridging loan takes, and how running the steps in parallel saves weeks.
Last reviewed: 18 October 2026
Don't have everything yet?
That's fine. We don't need a complete file to have an initial conversation and assess your deal. Start with the basics — the property, the amount, and the exit — and we'll tell you what else we need as the deal progresses. The checklist above is the ideal; reality is often messier, and we're used to that.
Ready to discuss your deal?
Get in touch and we'll provide the right solution for your deal. If we can respond immediately we will, otherwise we'll call you back the same working day, often within a couple of hours.