Remortgaging & Financing

Most businesses require funding for investments, premises, acquisition of assets, projects or simply for working capital.

We can provide the legal advice you need to obtain such finance in a timely, efficient and cost effective manner.

We can explain the pros and cons of different methods of fundraising relevant to the specific circumstances of your business. Above all we help you to understand the full implications of the financing arrangements which are often the most significant and long-lasting decisions taken by a business.

Much of our work on behalf of borrowers of commercial funds comes in the area of acquiring premises. This will be a first mortgage of a property for a business start-up or for a business expansion. However we regularly advise on more complex arrangements which may involve a remortgage or in providing other security for borrowing.
We also act for developer clients who have particular needs for the financing the acquisition of sites and subsequent development.

We offer a full range of legal services to landlords. As part of this we advise landlords who have commercial and residential property portfolios in strategic and tactical fundraising for their investment businesses.

Our service for financing may involve:

  • Straight-forward mortgage of commercial property
  • Remortgage which will entail simultaneous loan redemption and new funding
  • Bridging finance where requirements for the main borrowing are not yet satisfied
  • Investigating and reporting on title to include changes in planning
  • Legal charges – fixed and floating
  • Debentures
  • Lender facility and loan agreements
  • Personal guarantees
  • Third party guarantees and security

Whatever your requirements we will offer straight-forward advice so that you understand the implications of any fundraising in which you or your business are involved.

Incorporation of property investment businesses

With recent and proposed changes in the taxation of rent some landlords with a residential property portfolio are considering the incorporation of their businesses. However forming a limited company and transferring assets into it is not necessarily right for everyone. There are pros and cons. There are tax implications for Stamp Duty Land Tax (SDLT), Capital Gains Tax (CGT), Corporation Tax (CT), Income tax and Inheritance Tax (IHT). There are transitional costs (e.g. setting up new bank accounts; new stationery). There are on-going costs in operating a limited company (e.g. audit fees; company secretarial responsibilities).  There are significant legal costs in transferring property titles, changing tenancy agreements etc.

A change to a limited company status provides an opportunity to review all financing arrangements. The security requirements for lending to a limited company are different from those in lending to a sole trader or partnership. We will happy to advise on such a change and to assist in any remortaging.

 

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How we can help

If you or your business need advice about financing, whether you have a specific investment or project in mind or have more general requirements for fundraising, our team of experts are on hand to offer the advice and support that you need.

Should you proceed with any refinancing transaction we will ensure it is done in an efficient, cost effective and timely manner so that you can concentrate on running your business.

If you would like help with either commercial or residential finance related issues please contact our team.

Get in touch today