Banking Lawyers

Client: Burnley Savings and Loans Ltd (Bank of Dave)

Client Intro
Burnley Savings and Loans Ltd, widely known as “Bank of Dave”, is a pioneering community-focused lending institution founded by Dave Fishwick. The business has gained national recognition through media coverage, including a Channel 4 documentary, a musical and the Netflix film Bank of Dave, and continues to challenge traditional banking models.

Case Overview
Myerson has advised Bank of Dave since its inception, with Partner Chris Moss playing a key role in supporting the business from its early development as a peer-to-peer lending platform through to its evolution into a regulated deposit-taking institution.

This included advising on the original lending structure, regulatory considerations under the Financial Services and Markets Act, and changes introduced by Article 36H affecting peer-to-peer lending. Chris also supported the successful application for a banking licence, working closely with the Prudential Regulation Authority and Financial Conduct Authority, and advising on governance frameworks, customer documentation, and operational procedures.

Myerson has continued to provide ongoing strategic and day-to-day regulatory advice as the business has grown. Recent work has included supporting internal governance and operational developments, as well as advising on a broader initiative aimed at reforming regulation to enable greater access to community banking in the UK.

The team has also supported initiatives including collaboration with a US community banking project, exploring greater coordination between credit unions, and advising on the potential launch of white-label credit cards and additional consumer credit products.

“Supporting Bank of Dave over a number of years has given us a front-row seat to the evolution of a genuinely different banking model. Our role has been to help navigate complex regulation while enabling practical, community-focused growth.”
– Chris Moss, Partner

Client Intro

Adlington Retirement Living designs, builds and operates award-winning retirement communities across England, empowering the older generation to live a happy, healthy life surrounded by an active community of retirees.

Adlington retirement homes provide everything needed to maintain an independent way of life, with the safety net of tailored personal care packages available if they are needed in the future.

Case Overview

The Myerson team assisted Adlington with a full refinance of its development finance facility which will support Adlington’s growth plans and help meet the need for specialist later living accommodation in the UK.

Adlington negotiated a £75 million refinance with NatWest and Homes England.  Myerson acted on the negotiation of the facility which required extensive consideration and negotiation given the complexity of the transaction and the parties involved.

Alongside the negotiation of the facility, Myerson were also required to negotiate a full security suite.

Completion of the transaction was not only important for Adlington but the sector as a whole as this was the first time Homes England has supplied financing to a specialist integrated retirement community developer.

Ryan Fletcher, a Senior Associate at Myerson Solicitors said:

‘’We are thrilled to have been able to support Adlington in their refinancing after receiving landmark funding from NatWest and Homes England. We at Myerson look forward to seeing the continued development of such valuable retirement communities during this exciting period of growth for Adlington. It has been a pleasure to assist Adlington on this work.’’

Client Intro:

Case Overview:

Our work included:

• Reviewing and advising on facility agreements, security documents, and guarantees under English law.
• Identifying and resolving English law issues arising from the financing arrangements.
• Supporting JB Law in negotiations to ensure compliance and to mitigate legal risks.
• Delivering timely, commercially focused advice to meet tight transaction deadlines.

"We were pleased to assist JB Law with their high-value and logistically complex cross-border financing transactions. The unique nature of the assets and the phased security structure required precise legal analysis under English law. Our ability to provide clear, practical advice within the required timeframe reflects our expertise in handling complex international matters and supporting clients operating across multiple jurisdictions."

Marshalls Yard Limited is a joint venture between Dransfield Properties and Prospect Estates, the team behind Marshall’s Yard, a landmark mixed-use regeneration scheme in Gainsborough, Lincolnshire.

Case Overview

Myerson advised long-standing client Marshalls Yard Limited on the refinancing of the Marshall’s Yard development. Originally a former industrial site, Marshall’s Yard has been transformed into a successful town centre destination, combining retail, leisure, and office space within a restored heritage setting.

Our Real Estate team worked alongside the client’s in-house legal function and external advisors, including Rothschild & Co (acting under its investment management mandate with Just Group plc), to support the refinancing.

The transaction marks the latest phase in the evolution of the site, which continues to attract national and independent occupiers alike.

Myerson has a long history of supporting Dransfield Properties on major regeneration schemes across the UK, contributing to the delivery of sustainable and commercially resilient town centre projects.

“We are delighted to have supported Marshalls Yard Limited on this latest refinancing. Having been involved in the site from its inception over 20 years ago, it’s incredibly rewarding to see how it continues to thrive as a model for regeneration.” — Ian Gordon, Legal Director, Real Estate

Client Intro
Our client is a private individual seeking to provide structured financial support to a family member through secured lending arrangements.

Case Overview
Myerson advised the client in relation to two secured loan arrangements made to a family member in connection with a property acquisition. One loan was provided personally, with the second advanced via a discretionary trust established for this purpose. Our Private Client team advised on the creation and registration of the trust to facilitate the lending structure.

Given the potential regulatory considerations, our Financial Services team reviewed the relevant framework and confirmed that the lending arrangements fell outside the scope of financial regulation. Our Banking team then drafted the loan agreements, each secured by a legal charge over the property, and prepared a deed of priority to regulate the ranking and interaction between the two lenders.

We also carried out title due diligence to ensure the property could be charged and completed the registration of the security at HM Land Registry following the borrower’s acquisition.

“This was a carefully structured family lending arrangement, combining private client, regulatory and banking expertise to ensure the loans were both effective and properly secured.” - Chris Moss, Partner

Client Intro
Our client is a residential developer progressing the build-out of a housing development site, requiring timely refinancing to support ongoing construction.

Case Overview
We acted for the developer in connection with the refinancing of a development site, working alongside a major high street lender. Our role included advising the client on the terms of the lender’s security package, including a legal charge and debenture, and preparing a detailed report on title for the lender.

The title review required careful analysis of planning permission in the context of restrictive covenants affecting the site, identifying potential risks to development and proposing practical solutions to mitigate them. The transaction was particularly time-sensitive, as funding was needed to maintain the construction programme and avoid delays to the build schedule.

Having previously advised on the acquisition of the site and an associated option agreement, we were able to progress the refinance efficiently, leveraging our existing knowledge of the property and its legal framework.

“This was a fast-moving refinance where timing was critical to keep the development on track. Our prior involvement with the site meant we could quickly identify and resolve any title and planning issues.” - Joanne Perritt, Partner

Client Intro
Our client is a property investment company holding a prime London asset and undertaking wider refurbishment works across its portfolio.

Case Overview
We acted for the borrower in connection with the refinancing of a central London property, funded by a major high street lender. The transaction involved a complex title structure, with the client holding both freehold and leasehold interests in the same property. An application to merge these interests was ongoing but remained unresolved during the transaction due to delays outside the client’s control.

As a result, the lender required separate legal charges over both interests, leading to a detailed and technical due diligence process. We advised the client on the lender’s security documentation and responded to extensive enquiries, including those arising from the original acquisition of the property.

The transaction was further time-sensitive as the loan proceeds were required to support refurbishment works on another asset within the client’s portfolio. We worked closely with all parties to progress the matter efficiently and ensure completion within the required timeframe.

“Dealing with dual title interests alongside an active refinance required careful coordination. We ensured the lender’s requirements were met without delaying the client’s wider investment plans.” - Joanne Perritt, Partner

Client Intro

Our client is a family investment company managing a portfolio of private loans as part of a wider wealth and succession planning strategy.

Case Overview
We advised on the restructuring of a complex loan portfolio originally held by an individual and subsequently transferred into a family investment company. The portfolio included both secured and unsecured loans to third parties, each requiring amendments to enable assignment and alignment with the new ownership structure.

Our work involved preparing deeds of amendment and restatement, facilitating the assignment of loans into the company, and structuring new intra-family lending arrangements. As part of a broader succession planning exercise, interests in the loans were then gifted to the next generation.

We also drafted intercreditor arrangements to regulate the relationship between family members as lenders, including provisions governing repayment rights and dispute resolution. The project required close coordination between banking, corporate and private client disciplines to ensure the structure was legally robust and aligned with the client’s long-term objectives.

“This was a highly structured exercise combining lending, succession planning and family governance. Our role was to simplify the legal framework while preserving the commercial and personal objectives behind it.” - Chris Moss, Partner

Client Intro

Our client operates a peer-to-peer lending business providing funding to both individuals and companies across multiple jurisdictions.

Case Overview
We advised the client on establishing a legally robust lending framework for UK operations, including drafting a suite of finance and security documents such as loan agreements, debentures, guarantees, charges over land and chattel mortgages.

A key aspect of the instruction involved navigating complex financial services regulation. Given the cross-border nature of the business, we worked closely with the Financial Conduct Authority (FCA) to determine whether the lending activities fell within the UK regulatory perimeter. This included addressing questions around where the services were deemed to be provided.

Following detailed engagement with the FCA, it was confirmed that the activities were carried on in the UK and that regulatory authorisation was required. We continue to support the client with the authorisation process and the finalisation of documentation to enable compliant UK trading.

“This matter required careful navigation of cross-border regulatory issues. We worked closely with the FCA to establish a clear position and ensure the business could operate in the UK with confidence.” - Chris Moss, Partner

Client Intro

Our client is a farming business owning a substantial agricultural holding, including farmland and residential property.

Case Overview

We acted for both the borrower and the lender in relation to the refinancing of a farm comprising nearly 200 acres of agricultural land and two farmhouses, with a property valuation of approximately £4.5 million. Our role involved advising the borrower on the terms of the lender’s security and producing a certificate of title following detailed due diligence on the property.

The transaction was particularly time-sensitive due to the expiry of the borrower’s existing facility and a dependency on the sale of a separate property to complete the refinancing. Alternative short-term funding options were explored, including a proposed bridging loan, but were ultimately not pursued following our advice.

We successfully completed the refinance within a very tight timeframe, aligning completion with the related property sale and ahead of the lender’s offer expiry.

“This was a tightly managed transaction with multiple moving parts. We worked closely with all parties to ensure the refinance completed on time and on the right terms for our client.” – Joanne Perritt, Partner

Client Intro

Our client is a recycling business operating in the North East of England.

Case Overview
We advised the client on a secured finance transaction to support its continued growth, with funding provided by a major UK lender. The loan was secured against a key operational recycling site.

Our role included advising on the finance arrangements and associated security, as well as managing a detailed due diligence process. This involved responding to the lender’s enquiries and addressing title issues through the negotiation and placement of multiple indemnity policies.

The transaction required careful coordination to satisfy the lender’s requirements while ensuring the client could access funding efficiently to support its expansion plans.

“This transaction required a pragmatic approach to resolving title issues while keeping the funding on track. We worked closely with the lender to ensure a smooth process for our client.”
Joanne Perritt, Partner

Client Intro

Our client is an experienced property investor with a portfolio of commercial assets across the North West.

Case Overview
We advised on the transfer and refinancing of a fully let industrial estate comprising several occupational units. The transaction involved transferring the property into the sole name of our client and refinancing the existing lending with a new facility from a UK bank.

Our role included advising on the discharge of the existing lender’s security and supporting the new lender with due diligence requirements. A number of legal issues required resolution, including defects in occupational leases, which needed to be corrected and re-executed, as well as title complexities involving partially unregistered land. We also advised on environmental risks identified during searches and how these could be managed from a lender’s perspective.

Through close coordination with all parties, we were able to resolve these issues and complete the transaction, enabling the client to consolidate ownership and secure ongoing funding for the asset.

“This transaction required us to get into the detail of both the title and the occupational arrangements to ensure the lender was comfortable and the refinance could proceed without delay.” - Joanne Perritt, Partner

Client Intro

Our client is an owner-managed business supported by its directors and shareholders, seeking funding to support its ongoing operations and growth.

Case Overview
We acted for the company and its directors in connection with a secured loan facility provided by a specialist lender. The funding was supported by a debenture over the company, legal charges over multiple residential properties owned by the directors, and a personal guarantee.

Our role included advising on the lender’s security package, reporting on the terms of the finance documents, and managing the due diligence process, including providing title information and responding to lender enquiries.

A key issue arose in relation to insurance provisions within the security documents. As some of the charged properties were leasehold, responsibility for insurance sat with third-party landlords, creating a mismatch with the lender’s requirements. We successfully negotiated amendments to the security documentation to ensure our clients could comply with their obligations while satisfying the lender’s position.

“This transaction required a practical approach to aligning lender requirements with the realities of leasehold ownership. We worked closely with all parties to find a solution that kept the deal moving.”
Andrew Stone, Partner