Property Law: How can a lawyer assist with the financing and refinancing process?

A lawyer will invariably not be intrinsically involved in the provision of financial accommodation for the financing or refinancing the purchase of or encumbrances attached to real estate. After all, lawyers are , generally speaking, not moneylenders.

However, the role of a lawyer can be of invaluable assistance in ensuring that a person who is financing or re-financing a property fully understands the nature of the encumbrance and the risks involved. Such encumbrances are of course not limited to real estate. There can be financial encumbrances attached to an individual or a company. Quite often the financial institution that is providing the accommodation for the financing or refinancing of a property may seek additional encumbrances or security in addition to what is ordinarily a mortgage attached to the property. There may be encumbrances affixed to any companies by way of a fixed or floating charge over the company’s assets. The financial provider may also insist on the provision of personal guarantees.

The financing or refinancing process can be somewhat complicated and the engagement of a solicitor to provide expert legal advice and representation so as to ensure that you are fully aware of the nature and extent of any potential liability, is imperative.

In fact, in some circumstances a transaction involving the financing or refinancing a property cannot proceed without the engagement of a lawyer. This is particularly so if a personal guarantee is sought by the financial provider such that they require a certificate of independent advice from a lawyer confirming the advice provided to the proposed guarantor.

Brydens Lawyers are experts in relation to all matters dealing with the financing or refinancing property and can assist in relation to the preparation of and representation in connection to all encumbrances including mortgages, discharge of mortgages, fixed and floating charges and personal guarantees. For all legal advice in connection with such financial encumbrances contact Brydens Lawyers without delay on 1800 848 848 or at brydens.com.au.

At Brydens Lawyers – #WE DO advise and represent in connection with financing and refinancing.