Client Story

Complex lender and borrower agreement navigated thanks to Real Estate expertise

29th November 2023

Matthew Hayes, Partner in the Agriculture and Estates team, and Abbi Melrose, Solicitor in the Real Estate team, recently helped both a lender and a borrower in a complex case.

The owner of a large rural estate which comprised of a business park, country house, abbey and holiday cottages was looking to refinance with a new lender as well as upgrade various parts of the estate. Seeking advice and expertise, he turned to Matthew and Abbi.

Abbi and Matthew co-represented both lender and borrower, guiding them through the complex of financing a large land holding. Several issues cropped up, including low EPC results for listed buildings, non-compliant residential tenancies, boundary errors and commercial occupation tenancies on non-standardised terms.

In addition to this, the security being taken was predominately charges of part – meaning a mechanism had to be put in place to ensure the right land was being charged. There was also a mix of corporate and personal security being taken along with a corporate guarantee. HCR’s banking team advised both clients on the corporate guarantee and associated issues regarding commercial benefit for the corporate entity giving the guarantee. Thanks to Matthew and Abbi’s expertise, the transaction was completed successfully, leading to these testimonials from both clients:

The borrower said: “I am breathing again now! What a journey – nine months but finally birthed the deal. Thank you for believing in us and our goals. Thanks particularly to Abbi for bearing with all the nuances of it.”

The lender said: “Thanks everyone for your patience, help and support. I’m pleased we have finally got there – you can safely pop that cork now.”

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