PLS addresses purchase risk within four hours to secure the client’s land for one of the UK’s leading lenders

Modern apartments on both side of river Irwell passing through Manchester city center, UK.

“Addressing risks early on is critical. We pride ourselves on working with all parties involved to ensure issues are resolved promptly for the client. In this instance immediacy was a key driver.Kieran de Vares, Solicitor

Our client’s challenge?

From the outset there were issues highlighted relating to a boundary dispute with a neighbouring development and, secondly, an ongoing claim of the borrower for adverse possession for a piece of land that would assist with the development.

Bridging the gap

The lender and valuer were having a degree of difficulty in understanding the position from a risk perspective, so we scheduled a conference call immediately with the lender to outline all concerns.

Following the meeting we talked to the borrower’s Solicitors and went through the attachments on these two issues which then enabled us to do a separate risk report to the lender which was then signed off.

Responsive and timely delivery

We were able to report on the risks within four hours of receiving the case. By picking up the phone and isolating the main issues with the borrower’s solicitors we were able to understand and report on the risks within four hours. From experience we have seen issues such as these postpone a transactions for weeks or months.

The right result for our client

After the deal completed the borrower’s solicitors emailed our client direct and the PLS senior management team to thank us for the way in which the deal was handled.

“PLS worked quickly to highlight and mitigate any potential risks for our clients. In this case our client was delighted with the outcome”