Development Finance

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.

Recent completed transactions include:

• Advised senior lender (peer to peer lending institution) on all aspects of a £7,774,000 Recovery Loan Scheme development finance facility, including drafting and negotiation of all finance and security documents with institutional funding line and mezzanine debt providers and handling all due diligence and reporting aspects.
• Advised a peer-to-peer lending institution in relation to a Coronavirus Business Interruption Loan Scheme development facility to fund a conversion of a former hotel to an assisted living facility for elderly care.
• Advised a peer-to-peer lending institution in relation to a £3 million site acquisition and development facility for the building of holiday lets.
• £1.7m development loan to fund the build of 9 residential bungalows in West Wales.

If you require further information or need assistance with the legal aspects of a potential financing arrangement, please contact David Powell or Shanice Golder.