Development loan facilities cover the financing and ongoing administration of loans for speculative or pre‑sold construction projects. A solicitor in this area arranges facilities, negotiates main and intercreditor documents, drafts and reviews facility agreements, security packages, drawdown notices and variations, and coordinates with lenders, developers, planning authorities and contractors. They advise on compliance with funding covenants, security priorities, and default remedies to keep a project on track while protecting the lender’s and borrower’s position.
What a solicitor handles in these matters
The solicitor handles facility agreements, security packages, intercreditor arrangements, drawdown mechanics, calls on performance covenants, and enforcement steps if a borrower defaults. They navigate planning conditions, construction contracts, and certificate regimes, ensuring alignment between funding milestones and construction progress, and manage interactions with multiple lenders, housing associations, or joint venture partners.
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