From g. to right: Simon Errington and Ian McElroy

Newcastle-based law firm Ward Hadaway has been appointed by the TOC Property Backed Lending Trust (PBLT) to advise on its recent financing arrangements with Shawbrook Bank and increase lending activity in the property development sector.

Coté PBLT is managed by mortgage specialist Tier One Capital and has appointed Ward Hadaway for his experience and reputation in the built environment sector.

The firm’s built environment team is one of the largest working in the real estate industry in the North of England, and its real estate finance and banking lawyers will provide PBLT with advice on loan transactions and will help support and accelerate the capacity of their growth plans.

PBLT currently has a loan portfolio of around £ 25million across its entire portfolio and plans to accelerate its growth in the North East and Scotland.

The lending specialist has recently entered into a number of high-profile deals in the residential and commercial markets and is currently seeking potential borrowers while providing positive longer-term returns for investors.

Ian McElroy, Managing Director of Tier One Capital, said; “The Ward Hadaway team has a fantastic reputation across the UK, and PBLT is in a very strong position to help drive the region’s commercial and residential property markets, with the right partners and legal teams from experts on board. “

Simon Errington, Ward Hadaway’s Built Environment Team Partner, said: “This is fantastic news for the Northeastern commercial and residential real estate markets and will provide a much needed boost to stimulate growth. economy, especially after the pandemic is over. “

Imogen Holland, Ward Hadaway Corporate Team Partner, added: “We have a solid reputation in the industry, and we are delighted to be working with the Tier One team and acting on behalf of PBLT to provide expert advice on legal documentation. for loan operations. “