Protocol for discharging mortgages of commercial property

The City of London Law Society Land Law Committee has produced a protocol for discharging mortgages of commercial property (incorporating input from the Association of Property Lenders and the CLLS Financial Law Committee). We will wait to see whether the industry takes up the protocol as its use is not a legal requirement. However, it should provide a helpful starting point for completion mechanic negotiations and help to save time and costs for all parties.

Need for changeŠŠ: different procedures across the city; repeated stand-offs between outgoing and incoming lender requirements; inefficiencies negotiating completion mechanics; and no Law Society-endorsed code of practice…

Click on the link below to read the rest of the Macfarlanes briefing.

Briefings from Macfarlanes

View more briefings from Macfarlanes

Analysis from The Lawyer

  • Bale

    Summer Round-up: Deals, booted

    Footie and telecoms dominate our regular round-up of recent M&A activity, as the threat of rising interest rates kick-started activity among organisations.

  • Sports Direct

    City: The battle of mid-way

    It’s all kicking off in the mid-level corporate sector, with upstarts such as RPC, FFW and Irwin Mitchell looking to cash in as discerning clients look for value. By Natalie Stanton

Browse This Firm’s


20 Cursitor St

Turnover (£m): 114.16
No. of Lawyers: 256