Taylors Solicitors

Taylors Solicitors posts record quarter after bridging boom

Property finance lawyers at Taylors Solicitors have completed deals totalling £50m during the first three months of 2021, a record quarter for the team.

The team, based at Taylors’ Manchester office, acts for finance companies and lenders operating in the property sector.

During Q1 2021, the team advised an expanding UK client base on bridging finance for apartment blocks and commercial premises, funding for new commercial and residential developments and property-related business loans — as well as CBILS transactions.

“Despite being in the grip of a pandemic, the property market has remained relatively buoyant, and it’s been tremendously satisfying for us to play our part in completing so many transactions during a period of such significant disruption,” said Andrew Livesey (pictured above), who heads Taylors Solicitors’ Manchester office.

“The diligence of our team working closely with new and regular funding clients has resulted in a record number of successful outcomes in recent months.

“Bridging finance transactions remain a key part of the landscape — businesses and property developers are attracted to these due to the speed with which their applications are approved and the legal process completed.

“While mortgages can take several weeks or months, the opportunity to receive funds within two to three weeks of applying and avoid traditional property chains is very appealing. 

“With many new and flexible products available, we may well see further advances in this area.”

Elaine Hurn, managing partner at Taylors Solicitors, added: “We pride ourselves on building trusted relationships with our clients and we have worked with many funders since the very launch of their businesses, including preparing their loan documentation and obtaining their own funding and premises as they have expanded.

“We are proud that we have been involved with some very much from the ground upwards and that many of them regard us as the ‘go-to’ lawyers.

“We have invested resource, time and effort to put in place systems that ensure our clients receive a responsive, commercial and cost-effective service, not just in property finance but across our wider legal services offering.”

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