Whether you are lending or borrowing money to be secured over Land, Ellis Jones’ Commercial Property Team is able to help with all the Legal aspects involved.
Acting for a Lender
If you are lending money it is vital you take Legal Advice. We can advise you on what type of security you should consider.
We will prepare the legal documents and negotiate them with the Borrower.
If the Loan is to be secured over land we will:
- Look at the Title
- Make searches if appropriate
- Raise enquiries of the Buyer if appropriate
We will also advise on whether the Buyer should pay your costs
If the Loan is made we will ensure that it is registered with the appropriate bodies such as the Land Registry and Companies House.
Acting for a Borrower
If you are borrowing money, as with lending money, it is vital you take Legal Advice.
You will need to be aware of the risks in borrowing the money and of securing against your property. We will advise you on these risks
We will check the loan documents and make amendments we believe necessary to minimise the risks to you.
We may also need to deal with other lenders on your behalf – for example if there is already a security on your property such as a mortgage.
Acting for both a Lender and a Borrower
If you are borrowing money from a commercial lender such as a Bank we will often be able to represent both you and the Lender.
In these cases the loan paperwork is the standard documentation of the Lender and as such cannot be negotiated. We will advise you of what the documents mean.
We will attend to the registration formalities such as the Land Registry and Companies House.
It is usually more economic when we can act for both the Lender and the Borrower.
In cases when the two are separately represented there will be two sets of legal fees to pay.
Linked pages
For all of your commercial property needs please contact:
Charminster: 01202 636227
Canford Cliffs: 01202 709898
or email: commprop@ellisjones.co.uk
