The Role of Solicitors in Commercial Finance

The roe that solicitors place in the mortgage market has become increasingly high profile over recent years, but perhaps more so in the commercial arena. Conveyancing is a vital part of the property purchasing process and solicitors who embrace the latest advances can help drive the process forward.

There are many types of solicitors and nearly all of them will carry out property conveyancing, which is probably fine for standard residential property transactions.  Where the property or circumstances are more complicated it becomes important to use a specialist commercial property solicitor.  Typically it is the larger firms which have a dedicated commercial department so in theory they should be well placed to offer a quicker, technologically driven approach and have sufficient resources for good case management.

The advantages of using a specialist commercial solicitor do not stop there though.  In the majority of cases the conveyancing process is quite straightforward but it is when things do not go to plan, or when complications arise that skill and experience make the difference between completion and disaster.

The sorts of transactions which benefit from the experience of a commercial solicitor would include all types of bridging finance and commercial mortgages, but also property and land being purchased for development.

The government is committed to all conveyancing being done electronically by 2010, and a good many conveyancers are already getting ahead of the game by taking full advantage of e-mail and the Internet.  Whilst this ambition dovetails nicely with the general trend toward a faster service including online applications, mortgage offers, and valuations the importance of personal service and competence should not get left behind.

Leave a Reply

Your email address will not be published.

I accept the Terms and Conditions and the Privacy Policy