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Legal Charges and Debentures

If you’re looking for a law firm with vast experience in legal charges and debentures, Glaisyers are at your right hand.

Whether you’re in the property business or something entirely different, the best security for a bank is either the debts owed to the business or the freehold/long leasehold property owned by the business.

Traditionally, it has been quite long winded and expensive to create a charge over property because of the many searches required by most banks into who owns the freehold or leasehold titles. Fortunately, in recent years, the time taken for such searches has come down and, in some cases, so has the cost.

In many cases now, the borrower’s solicitor cannot also act for the bank. Therefore a good working relationship between both solicitors is essential for a smooth and quick completion of a transaction. At Glaisyers, our friendly, professional banking lawyers have vast experience in working both for banks and borrowers in relation to the security.

Often, a charge over all the assets (including book debts) of the business borrower (called a debenture) is required in addition to a legal charge over the property. In some cases, consents may be required from third parties such as another bank with a debenture over the borrower, or from a freeholder in relation to a long leasehold security. Glaisyers are experts at cutting through the jargon and explaining these things to borrowers in a clear, straightforward way.

Whatever your involvement in the loan security process, there is no substitute for having an expert to explain the jargon and to make the process go as smoothly as possible.

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