Tools — Funding Developer’s funding checklist
What your lender and monitoring surveyor will usually ask to see before the first drawdown. Tick off what you have, then print or save it as a PDF.
Indicative only. Our free tools and information are a general guide to help you think about your project. They are not advice on your specific project. Every project is different, so we can only give firm advice once we have spoken with you and fully understand your requirements and scope. Book a conversation
Requirements vary by lender and by project, but most funders will look for the items below before releasing the first drawdown.
Professional team
Building contract
Cost and programme
Design and approvals
Legal and site
Health and safety (CDM 2015)
Monitoring and drawdown
This checklist is a general guide based on typical UK development finance requirements. Your lender’s own conditions take priority. Read more in What does a monitoring surveyor do?
Development finance and the first drawdown
Before releasing the first drawdown, most development finance lenders appoint a monitoring surveyor (sometimes called a lender’s monitoring surveyor or project monitor) to review the project. They check that the building contract, professional appointments, collateral warranties, budget, cashflow and programme are all in order, and that planning and building regulations are in place.
Having these documents ready speeds up the initial report and avoids delays to funding. October Projects provides independent monitoring surveyor services for funders and investors, and helps developers prepare for lender due diligence across Birmingham, the West Midlands and the UK.
Frequently asked questions
What does a monitoring surveyor check before the first drawdown?
Usually the building contract and appointments, warranties, insurances, budget and contingency, cashflow, programme, planning and building regulations status, site surveys, legal agreements and CDM compliance. Any gaps are reported to the lender as conditions to resolve.
Who pays for the monitoring surveyor?
The monitoring surveyor is appointed by and reports to the lender, but the cost is usually paid by the borrower as part of the loan arrangements.
How often are drawdowns made?
Usually monthly, based on a valuation of the work completed. The monitoring surveyor reviews each request and recommends the amount the lender should release.
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