Until recently, banks lending on property in England and Wales
would also instruct the borrower's solicitor in all but high
Following a change in the conduct rules for solicitors at the
end of 2011, a solicitor may only act for both the bank and the
lender in very limited circumstances.
These circumstances are where:
the mortgage is a standard mortgage provided in the normal
course of the lender's activities, where a significant part of
the lender's activities consists of lending and the mortgage is
on standard terms;
the property is to be used as the borrower's private
the lawyer is satisfied that it is reasonable and in the
client's best interests for the lawyer to act; and
the certificate of title required by the lender is in the form
approved by the Law Society and the Council of Mortgage
The effect of this change, which will have a particular impact
on Channel Island lenders, means that banks should instruct their
own solicitor in the following circumstances:
the loan is to an overseas company or non UK resident
the mortgage is over commercial property;
the mortgage is over the borrower's investment property;
the borrower can negotiate the terms of the mortgage.
How can Collas Crill Help?
Collas Crill offer banks an independent service with a dedicated
UK property team experienced in acting for Channel Island based
lenders granting mortgages over properties in England and
With a fixed pricing structure, Collas Crill can offer Channel
Island banks certainty of costs from the outset of the
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Failure to comply with company law in Hong Kong can be very expensive for businesses. In a highly dynamic business and regulatory environment such as Hong Kong, it is challenging for business owners to remain fully aware of the latest legal requirements.
In our article " Characteristics of the Commercial Agency Law of the United Arab Emirates" published with Mondaq on 27.09.2016, we outlined the general applicability of the UAE Commercial Agency Law (Federal Law No. 18 of 1981 including its amendments).
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).