A network of law firms available to act for borrowers has been set up in order to deliver a better process for transactions involving Shawbrook Bank commercial loans.
The network firms have offered a discounted rate to clients involving Shawbrook loans.
If a borrower chooses to use a network firm to represent them for a Shawbrook commercial loan, there will be a 10% reduction in legal fees from the network firms and a 10% reduction in Shawbrook Bank’s standard legal fees.
The law firms currently involved in the network are: Berg; Girlings Solicitors; Bond Dickinson; TLT LLP; Penningtons Manches LLP; Elmhirst Parker; Fishman Brand Stone; Cannings Connolly; Ellis-Fermor & Negus and Bright LLP.
The network firms have worked with Pure Law LLP on previous transactions and in those transactions have shown a pro-active approach in dealing with legal problems. Pure Law has also agreed that it will regularly update the legal firms on the network with information regarding changes in Shawbrook processes.
Fraser Sinclair, partner at Pure Law LLP said: “It is in the interests of all borrowers to work with solicitors who know a lender’s requirements. This network has been established with the goal of making the legal process more efficient for everyone. We are looking forward to seeing this network in action and the effect it has on transactions.”
Karen Bennett, sales and marketing director of commercial mortgages at Shawbrook Bank, added: “As always, we listened to our brokers who told us about the challenges they faced when it came to dealing with solicitors. Working closely with the Pure Law team, this network has been established to streamline the process. We believe it is a great step toward driving efficiencies across the conveyancing process and providing an enhanced service to everyone involved.”
