Ca s e S tu d y Fi v e
The t eam ac t ed fo r a clien t on a £ 675 , 000 de v elo p men t loan t o a s mall - s cale Manche st e r pr o p e rty de v elo p e r t o r efinance t he bo rr o w e r ’ s s i t e and su b s e qu en t de v elo p men t of t he s i t e in t o a block of nine a p a rt men ts. The w o r k had t o be ca rr ied o ut a t sp eed a s t he e x i st ing loan w a s in defa u l t , and t he e x i st ing f u nde r w a s abo ut t o pu ll t he p l u g on t he bo rr o w e r. I t in v ol v ed d r a w ing up t he de v elo p men t loan ag r eemen t and s ec ur i ty doc u men ts ( incl u ding an O pt ion fo r t he pur cha s e of t he s i t e in t he e v en t of defa u l t in fa v o ur of t he clien t ), r e v ie w ing t he bo rr o w e r ’ s t i t le t o t he s i t e , r e p o rt ing t o t he clien t on t i t le , ad v i s ing t he clien t on t he o ut come of o ur d u e diligence , com p le t ing d r a w do w n of t he loan and a tt ending t o t he r egi str a t ion of t he s ec ur i ty doc u men ts a t Com p anie s Ho us e and t he Land Regi stry.
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