We acted for both the farmer and a specialised agriculture lender in arranging security within tight timescales to secure an onward purchase for a borrower looking to diversify his current portfolio. The volatile property market meant all parties were focused on achieving drawdown as soon as practicably possible.
The Muckle team agreed the simplest way forward with the borrower’s solicitor with a view to avoiding duplication of work as between the two appointed firms. Clear directions were given by Muckle LLP who then supported the borrower’s solicitor throughout the process, dealing with their lack of familiarity with the standard documentation and processes required in real estate finance transactions.
The teams’ experience in dealing with both the requirements of the instructing bank and the borrower’s solicitor transactional positioning meant that excellent relationships were maintained throughout and the team received excellent feedback from all parties when the deal was closed, a week before the set deadlines were reached and within the legal spend budget that had been set.