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Our expert Banking and Real Estate Finance team has wide-ranging experience in advising lenders on all aspects of the funding of site acquisition and subsequent construction, conversion or refurbishment of residential, commercial and mixed use development sites, drawing on specialised construction, planning and insurance expertise where required.
At TWM Solicitors, we draft both industry standard and bespoke non-standard facilities and security in multiple-raise and single-raise deals for high street banks, alternative lenders, challenger banks, peer-to-peer operations and private funders.
Acutely aware of the time pressures involved in progressing developments, we are pro-active in liaising with the lender, any Independent Monitoring Surveyor and the borrower’s solicitor to identify satisfactory and practical solutions to any issues identified in the course of our legal due diligence as and when they arise so they can be resolved in good time prior to anticipated drawdown.
We are also able to offer collaborative advice from existing trusted professional advisors on construction documents including build contracts, professional appointments, collateral warranties and PI Insurance.
Partner and Head of Business Law
City-quality advice at regional prices – highly specialised solicitors offering expert advice and representation at competitive regional prices.
Solutions-oriented – we go beyond legal advice to provide practical personalised solutions and strategic commercial insights.
Accessible and responsive – easily accessible and responsive, ensuring you receive timely and proactive advice, when you need it.
Transparent pricing, no hidden fees – expect upfront pricing for your peace of mind and financial clarity throughout a matter.
Full service support – comprehensive legal services for every stage of your business, supported by seamless collaboration across our specialist teams.
Trusted by clients and professionals – our track record speaks for itself with a strong reputation for achieving outstanding results and high professional rankings.
Please click here to view details of our Business Law Pricing Information.
A development loan is designed to assist with the costs associated in building out a commercial or residential development project. Projects can include new build houses or apartments or refurbishment and conversions of existing properties. Development finance can cover the costs of a whole development project or be split across several phases. In some instances, the funds can also be applied to acquisition of the site or property as well as its future development.
This is the ratio used to measure the amount of debt financing being used to fund the development of a property compared to the estimated value of the completed development. Each lender will have their own parameters which establish the maximum amount that can be lent.
The key advantage of having a collateral warranty in place is that it creates a direct contractual relationship between the contractor or consultant and a lender, allowing a lender to claim for losses should the contractor or consultant default and typically offer a lender step-in rights to enable the lender to ensure a development is completed if the borrower who has employed the contractor or consultant defaults on their loan.
A development exit loan can be used to repay outstanding development finance and are usually recognised as a type of bridging loan.
These are usually offered to or obtained by borrowers once the buildings at a development site are ‘wind and watertight’ and the development finance loan is coming to an end and sales of the units that have been built won’t be completed before the term of the development loan expires.
A development exit loan can also assist in releasing equity from a project that is nearing completion to fund the next project a borrower has in the pipeline.
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