Your kind of law firm
| or call:
0161 832 4666
Glaisyers

For Business

Priority Arrangements

Priority Arrangements

If you’re a property developer or investor with numerous projects, who would like to achieve expansion in a difficult borrowing climate, it may be necessary to approach two different banks for different projects. If this is the case, Glaisyers can help.

It might be that one bank or invoice finance company has a debenture or a charge over projects 1 and 2 and, in order to complete the second project, you need more funding from another bank. This second bank may be prepared to provide the loan by way of a second charge on the second project on condition it secures a first legal charge against your next completed project. It is this situation that gives rise to an inter-creditor deed or deed of priorities.

With Glaisyers’ banking expertise, we oversee the negotiation of a priority arrangement to satisfy all parties involved. Both banks can be sure they have adequate security, and you can be sure they don’t unduly restrict the ability of your business to carry out the various projects.

If you would like any more information about the services offered by our Banking team, please get in touch on 0161 832 4666 alternatively complete the online enquiry form below.

Make an Enquiry

Fields marked with * must be completed

We may use information provided to inform you about services or events. If you do not wish to be contacted please check this box.