Transactions should normally be initiated with us by the customer contacting their relationship manager or normal bank contact at the earliest opportunity to discuss the security requirements.
Once the customer has provided us with all the information which we require, and we have considered (and agreed) the request, we will produce the required documentation which will then be provided to you for signing.
One of our standard requirements is a Letter of Consent from the customer authorising us and you as alternative lender to disclose confidential information to each other, as may be required to agree the security arrangements. A suitable style which you may wish to print and have the customer sign is provided below, although we are of course happy to accept your own standard form or a letter from the customer, providing it contains the same minimum information.
Whilst use of our agreed standard forms is likely to result in the speediest conclusion of the paperwork, we will of course be willing to consider using one of your own standard forms, where appropriate.
If neither of us have a mutually acceptable standard form then negotiations may be required to agree the precise terms of a bespoke form. Time should be allowed to conclude such negotiations, particularly where either or both of us require to instruct solicitors to act on our behalf.
In such cases it may be appropriate to establish the final negotiated form as a ‘pre-agreed form’ to facilitate future transactions (saving time and expense). We will be happy to consider such requests. Where such a pre-agreed form already exists, this should be used wherever possible.
If you have any questions regarding our standard forms or would like to speak to us about establishing a pre-agreed form for future use then you may contact us at Priority and Releases. We will endeavour to provide an initial response to you within 2 business days.
