The conditions-precedent checklist

Conditions precedent are everything that must be true before money moves. None of it is negotiable in substance; all of it is schedulable. Assign every line an owner on day one and chase daily — deals run at the speed of their slowest unowned item.

Money and identity

• Facility letter signed and returned — with any commitment fee paid
• Certified ID and proof of address — for every borrower and guarantor
• Source of funds evidence accepted — not just submitted — confirm the lender's solicitor is satisfied

The property file

• Valuation report addressed to the lender — check the addressee — a report addressed to you may need re-addressing, at a fee
• Official copies and title plan — current, from the Land Registry
• Searches or indemnity policy — confirm which route the lender accepts before paying for either
• Planning and building regulations documents — or an indemnity policy where the paperwork is missing
• Buildings insurance in place — lender's interest noted, sum insured at least the reinstatement figure from the valuation — the mismatch here delays completions weekly

Third parties

• Redemption statement current — on refinances — statements go stale; re-request near completion
• Consent or deed of postponement — from the first-charge lender on second-charge deals — their timeline, chase it early
• Independent legal advice certificate — for every personal guarantee, booked not promised
• Board minute and company documents — on SPV borrowing

The final mile

• Completion statement agreed — the arithmetic of gross, deductions and net advance checked against your own
• Funds requisition deadline known — lenders have cut-off times; missing one costs a day