Development Finance Deal Packaging

Development finance deals require significantly more documentation than standard bridging or refinance. The due diligence chain is longer because lenders need to assess not just the borrower and the security, but the viability of the entire project.

Planning permissions, schedules of works, contractor credentials, quantity surveyor reports, cash flow forecasts, draw-down schedules. Each of these documents comes from a different source, with different timelines and different levels of responsiveness.

More parties means more coordination burden. The broker sits in the middle, chasing architects, project managers, QS firms, and the borrower's accountant, all while the lender waits for a complete pack. Without a structured process, this coordination breaks down.

In addition to the standard borrower ID, AML, financial evidence, and security documents required for any property finance deal, development lenders require project-specific documentation:

• Planning permission or PD confirmation - Full planning approval, permitted development rights confirmation, or evidence of planning application status with expected determination dates.
• Detailed schedule of works with costs - Line-by-line build cost breakdown, phased against the project timeline. Must align with the QS report and the draw-down schedule.
• Contractor credentials - Company details, insurance certificates, relevant project history, and evidence of capacity to deliver the proposed works.
• Quantity surveyor reports - Independent QS assessment of build costs, confirming or challenging the borrower's schedule of works.
• Project timeline - Phased programme of works showing start date, key milestones, practical completion, and any dependencies.
• Cash flow forecasts - Monthly or quarterly cash flow projections showing funding requirements, draw-down timing, and projected income.
• Draw-down mechanisms - Proposed draw-down schedule aligned to build phases, with monitoring triggers and certification requirements.
• Professional team details - Architect, structural engineer, project manager, and any other appointed consultants with their qualifications and appointment confirmations.

A typical development finance deal involves multiple sponsors, directors, and external consultants. Each needs to provide documentation. Each has their own timeline and priorities.

When coordination happens over email, it breaks down. Documents are sent as attachments with no version control. Updated files overwrite previous versions. The broker has no central view of what has been received, what is outstanding, and what has changed since the last review.

Obsidian centralises document collection through secure upload portals. Each counterparty receives a direct link to upload their required documents. Every upload is logged, timestamped, and validated against the checklist. The broker sees real-time status across all parties without sending a single chase email.

This is not about replacing the broker's role. It is about removing the administrative burden that prevents brokers from focusing on the deal itself.