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, it will result in a 10% reduction in legal fees from the network firms and 10% reduction in Shawbrook Bank’s standard legal fees for the borrower.
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.
Commenting on the launch of the network, Fraser Sinclair, Partner, 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 & Marketing Director, Commercial Mortgages, Shawbrook Bank said:
“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.”
