Funding-Ready Cost Plan & Appraisal
A cost plan and appraisal in the format development lenders review.
From £2,250 + VAT
Who it's for
Buyers under offer, or owners applying for development finance on a commercial-to-residential scheme.
What's included
- Elemental cost plan with quantities (NRM1 structure)
- Full development budget
- Monthly cashflow and finance costs
- Funding structure: loan-to-cost, day-one advance, drawdown schedule, rolled-up interest, all lender fees and the equity requirement
- Exit test: sale or refinance (loan-to-value and how much equity comes back)
- Development appraisal (profit on cost and on GDV, residual)
- Sensitivities
- Programme and procurement route
- Risk register
- Lender-ready executive summary
- Excel model
- 15–20 page report
Lenders and their monitoring surveyors make their own assessment. We can't guarantee that a lender will accept a report or agree a facility.
What's not included
- Design
- Planning applications
- RICS Red Book valuation
- The lender's monitoring surveyor role
- Contractor tendering (available separately)
What we need from you
- Architect layout
- Areas
- Specification level
- Finance terms or decision in principle
- Target programme
Turnaround and fees
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| Scheme size | Fee | Turnaround |
|---|---|---|
| Up to 6 units | £2,250 + VAT | 7–10 working days |
| 7–15 units | £2,950 + VAT | 7–10 working days |
| 16–30 units | £3,950 + VAT | 7–10 working days |
| Lender reliance letter | Available on request | With report |
Had a Bid Check in the last 60 days? Its fee is credited against this pack.
Bid Checks are paid on instruction. Funding-Ready packs are 50% on instruction and 50% on draft.
Sample page
SAMPLE: 13–15 BOULT STREET, READING (FOUNDER'S OWN SCHEME)
Cost plan summary
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| Element | Cost | £/ft² |
|---|---|---|
| Preliminaries and site set-up | £15,750 | £7.08 |
| Strip-out | £15,750 | £7.08 |
| Utility connections | £10,500 | £4.72 |
| Mechanical and electrical | £28,350 | £12.75 |
| Partitions, fire/acoustic boarding and plaster | £39,375 | £17.70 |
| Kitchens, bathrooms and tiling | £15,750 | £7.08 |
| Flooring, joinery, decoration and furniture | £18,775 | £8.44 |
| Project management | £15,750 | £7.08 |
| Build total (incl. 5% VAT) | £160,000 | £71.94 |
Development budget
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| Land and SDLT | £357,000 |
| Build cost incl. VAT | £160,000 |
| Legal, planning, building control, valuation, surveys and warranty | £23,500 |
| Finance (fees, 6 months’ interest, investor return) | £57,500 |
| Contingency (held in facility, not drawn) | £0 |
| Total cost | £598,000 |
Lender summary
- GDV
- £800,000
- Total cost
- £598,000
- Loan to cost
- 62%
- Profit on cost
- 33.8%
£370,000 facility
Works facility drawdowns (actual)
£89,750
Oct 2025
£57,500
Nov 2025
£0
Dec 2025
£31,500
Jan 2026
Drawdowns released against completed work.
Bid Check vs Funding-Ready
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| Bid Check | Funding-Ready | |
|---|---|---|
| Stage | Viewing, bidding or negotiating | Under offer or applying for finance |
| Purpose | Decide whether to buy, and the most to pay | Secure development finance |
| Inputs | Particulars, floor plans, asking price | Architect layout, areas, spec, finance terms, programme |
| Depth of cost plan | Building-specific elemental plan | Elemental plan with quantities (NRM1) |
| Cashflow | No | Monthly cashflow and finance costs |
| Lender reliance | Lender reliance letter: available on request. | Lender reliance letter: available on request. |
| Fee | From £750 + VAT | From £2,250 + VAT |
| Turnaround | 3 working days | 7–10 working days |
Bid Checks are paid on instruction. Funding-Ready packs are 50% on instruction and 50% on draft.
Questions
Can't see your question? Email hello@msurveying.co.uk
No. Your lender appoints its own independent monitoring surveyor. We act for you, the borrower, and prepare the cost plan and appraisal they will review. Because we've worked in the monitoring role, we know the format they expect. We don't act as both on the same scheme.
50% on instruction and 50% when we issue the draft report, by bank transfer against our invoice.
Architect layout, floor areas, intended specification, finance terms or decision in principle, and your target programme.
It follows the structure lenders and monitoring surveyors use. If your lender has a specific template, send it and we'll align to it.
Lender reliance letter: available on request.
No. Your Bid Check fee is credited if you instruct within 60 days.
No. It's a cost plan and development appraisal, not an RICS Red Book valuation.