Finance Preparation Checklists & Tools
Use these checklists to help prepare your finance enquiry before contacting NexGen Finance or approaching lenders. Understanding what information is typically required can make the process more straightforward.
These are general preparation checklists to help you organise information for a finance enquiry. They are not financial advice. Individual lender requirements vary. Funding is subject to status, affordability, lender criteria and approval.
Commercial Mortgage Enquiry Checklist
- Details of the property — type, location, size and current use
- Proposed purchase price or current valuation (for refinancing)
- Deposit available or current equity position
- Business trading history — typically two to three years accounts
- Business profit and loss information
- Details of the business operating from the premises (owner-occupied)
- Rental income details and tenancy information (investment)
- Director or individual personal financial information
- Credit history summary — any adverse credit events
- Proposed loan term and repayment structure
- Details of any planning permissions or development considerations
Bridging Loan Cost Considerations
- Monthly interest rate — bridging rates are charged monthly, not annually
- Arrangement fee — typically 1–2% of the loan amount
- Valuation fee — the lender will instruct a valuation at your cost
- Legal fees — your solicitor and lender's solicitor
- Exit fee — some lenders charge a fee on repayment of the loan
- Monitoring surveyor costs (if applicable, e.g. for refurbishment)
- Total cost if the loan runs for its full term
- Cost impact if the loan needs to be extended beyond the original term
- Exit strategy — clearly defined and credible route to repay the loan
- Redemption timeline — realistic estimate of when the loan will be repaid
Development Finance Information Checklist
- Site or property details — location, size, current use and ownership
- Planning permission status — full, outline or pre-application
- Gross development value (GDV) — projected completed value of the scheme
- Number of units and mix (residential, commercial, mixed)
- Total development costs — land, construction and professional fees
- Developer's track record — details of previous completed projects
- Proposed build programme and timeline
- Details of the building contractor and professional team
- Exit strategy — sale of units, refinancing to long-term finance
- Equity contribution — developer's own funds being committed
- Any pre-sales or pre-lets in place
Business Loan Preparation Checklist
- Business name, trading structure and Companies House registration (if Ltd)
- Time in business and trading start date
- Most recent two years of filed accounts or management accounts
- Last three to six months of business bank statements
- Purpose of the loan and how the funds will be used
- Loan amount required and preferred term
- Business turnover and monthly revenue figures
- Any existing business finance facilities and outstanding balances
- Details of any business assets that could be offered as security
- Director personal details, addresses and credit history
Buy-to-Let Finance Preparation Checklist
- Property details — address, type, number of bedrooms, current condition
- Purchase price or current value (for remortgage)
- Deposit available or current equity position
- Rental income achieved or expected (monthly)
- Tenancy details — current tenant, tenancy type, remaining term
- HMO licensing details if applicable
- Borrowing structure — personal name, joint or limited company
- Existing property portfolio — number of mortgaged buy-to-let properties
- Personal income details (lenders often require minimum personal income)
- Credit history summary — any adverse credit events
Ready to Discuss Your Finance Enquiry?
Once you have gathered the relevant information, contact NexGen Finance to discuss your enquiry.