Security

Understanding the key issues relating to security - whether it be giving of security, taking of security or the different types of security available to offer / being offered is vital in the context of running a business. At Francis Wilks & Jones, we are experts in the area of security and regularly advise funders and borrowers on all aspects of security. Please contact us now for your initial appraisal on 020 7841 0390

Our highly experienced team of lawyers specialise in the following:

As a practice we have successfully advised many funders and borrowers on the question of security and we pride ourselves on the assistance we offer our clients.

1. Secured loan against property

When providing commercial finance one of the least risky types of lending is a secured loan against property. This may be in the form or a commercial mortgage, residential mortgage or fixed charge over property. When receiving or making a secured loan against property, both parties need to understand their rights and obligations.
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2. Are secured loans regulated?

Whether or not your loan is regulated depends on whether the secured loan is a business loan or a personal loan. Commercial loans are not regulated, but personal loans are. Although commercial lending is not regulated per-se, there are procedural rules and requirements that must be followed.
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3. Are commercial loans regulated?

We are often asked “are commercial loans regulated”. Generally speaking, commercial loans are not regulated. If a regulated institution is providing lending which is secured by a residential mortgage or if the value of the loan is under £25,000, then it may be subject to regulation. For private businesses undertaking commercial finance, there is little need to be concerned with regulatory affairs.
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4. What is regulated lending?

We are often asked “what is regulated lending?” Regulated lending in the United Kingdom is predominantly limited to lending to individual consumers and secured lending involving residential property. For businesses engaging in commercial finance, there are few, if any regulations to ensure compliance with. At Francis Wilks & Jones we are experts in commercial finance and advising on commercial lending, secured business loans and general business funding.
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5. Secured Lending Reform bill

The Secured Lending Reform Bill 2010-2012 purported to limit the role or receivers to encourage banks to cooperate with customers to come to a solution before being able to obtain a possession order. The idea was to remove the power of sale from receivers and restrict the role of receivers to receiving income from assets.

Parliament did not pass the Secured Lending Reform Bill into law, and as such the amendments to the existing system were not effected.
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6. Secured Lending

When considering secured lending options, there are many factors to consider. Secured lending comes in many different forms, and Francis Wilks & Jones are equipped to assist however required. We are experts in commercial finance and can assist in reviewing documents, drafting documents and the secured lending completion process.
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