Very little moves in the commercial property market without external finance.
If you are buying commercial property most buyers will look to maximise their investment by gearing up. Traditionally buyers would have a long-standing relationship with one or two banks, but such relationships are no longer typical and commercial property investors will look to brokers and other banks and lending institutions to fund their transactions.
BBS Law has decades of experience acting for clients in funding their property transactions, and we frequently deal with banks and funders working to ensure they have the funds required to complete in a timely manner. Different funders have different requirements and the team at BBS Law are capable of dealing with bank’s panel solicitors and their due diligence requirements.
We are also experienced at dealing with the funder’s Loan and Security documentation, which often will include a bespoke facility letter and a spread of security from Legal Charges over the property, debentures, share charges, corporate and personal guarantees.
Since the banking crisis of 2008 there is a whole new raft of non-traditional lenders, bridging financiers and crowd funders. BBS Law have clients that have dealt with all of these.
Clients sometimes fund with private investors and we will also work with our corporate department on structures including joint ventures to achieve this.
BBS Law also act for lenders including banks and bridging loan providers – understanding how pro-active this market is and needing to be agile in getting deals over the line for lender clients and their borrowers.
The funding market is constantly changing and the team here at BBS Law try to keep abreast of market trends and who are the active lenders so that when a client has a funding issue or query we can often make an introduction to a lender or broker who may well assist them.