Partner, Juliet Baboolal is quoted in Bridging & Commercial, looking at the impact to SME developers who risk reducing their profits to nothing if they do not seek solicitors with the appropriate experience in property development transactions.
“This usually results in the inexperienced lawyer taking a back seat and encouraging direct communication between the developer and lender’s solicitor. This will delay matters, but the concern here is that the borrower will not have received adequate independent advice on issues that could potentially cause problems throughout the build process.”