Charges

Welcome to Francis Wilks & Jones, the country’s leading firm of advisers on the topic of charges. Whether you need advice on fixed charges, floating charges or just generally on the topic of business charges we are the firm to assist. We advise both borrowers and lenders in this particular area. Contact one of our friendly solicitors now on 020 7841 0390 and we will be happy to help.

1. What is a fixed charge?

Usually, a finance provider will take a fixed charge over specific assets of a company as security when providing a commercial loan or other commercial finance to that company. That fixed charge can then be enforced if the terms of the commercial finance agreement are broken.

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2. Floating charge definition

Whether you are taking security or giving security it is important to understand the difference between a fixed and floating charge, and the respective rights and obligations under each.

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3. What is a floating charge?

There is more than one possible legal charge on property that a lender is able to take, depending on the assets of a business and the structure of the lending. Generally, these can be a fixed charge or a  floating charge. There are advantages and disadvantages of both fixed and floating charges and our team at Francis Wilks & Jones can assist you whatever your enquiry and whether you are a lender or a borrower.

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