Financing, Securities & Facilities
Our specialist team understand the importance of funding in realising your commercial property transaction. As such, we offer legal advice for borrowers and lenders on aspects of commercial property investment including:
- Preparing and negotiating standard securities
- Renewing or assigning standard securities
- Advising on ancillary security documentation
- Preparation or interrogation of Certificates of Title
A standard security (legal mortgage) can be granted over land and buildings. The obligations of a loan can be inserted into the standard security itself or in another deed. A set of standard conditions has been created by Parliament, which are automatically incorporated into every standard security. The standard conditions relate to terms that include insurance, repair and prohibiting the grant of leases and sub-leases without the lender’s consent. However, these conditions may be amended by the security deed itself.
If the borrower has breached the conditions of the standard security, for example by failing to make repayments, then the lender is entitled to serve a notice of default or calling-up and enforce their remedies. Remedies include forced sale or the right to receive rents.
Contact our Commercial Property Solicitors in Edinburgh & London Today
The advice MBM provided on our fund’s first property acquisition in Scotland was comprehensive, clear and commercial and very much facilitated completing the deal in a tight timeframe.
