Security Releases

If you are an existing lender who has taken security over assets, it is important to ensure that any charges are correctly released at the end of the term, once all monies have been repaid. The chargor has a legal right to redeem their security and recover the full unencumbered use of their property or other charged assets after the lender has been repaid in full.

Equally, if you are a new lender who is taking security, it is important that any existing security is released and documented correctly and that there are sufficient protections in place to ensure an effective release of existing lending and taking new security. At Lawrence Stephens, we advise lenders and borrowers on security releases. We negotiate on your behalf to release security once funds have been fully repaid and we liaise on documentation to ensure that the release is actioned with interested bodies, such as HM Land Registry/Companies House.

Our Banking & Finance team have experience in dealing with a range of secured lending and our advice to you will be based on your commercial interests as well as your legal rights. We regularly advise on complex and high-value transactions and we work collaboratively with colleagues in other departments to provide a full and seamless service.

Deeds of release

Deeds of release need to be carefully drafted to ensure that no residual liabilities remain and that the assets refinanced do not remain subject to any existing charges. We regularly provide deeds of release in respect of all security e.g. debentures, legal charges, fixed charges, assignments, intercompany loans and personal/ corporate guarantees.

Release of security

Once a secured debt has been repaid, the asset owner is entitled to have their asset released from the relevant charges and reassigned. This includes releasing the chargor from any obligations or liabilities that were agreed upon when the charge was taken out.

Our specialist team also draft deeds of partial release whereby some assets will remain subject to a charge and certain security obligations and liabilities will remain.

Termination agreements

Where a business wishes to end a contract that has been entered into, a carefully drafted termination agreement is essential to ensure that all liabilities under the contract are ended.

We can advise you of your rights to terminate a contract and draft an effective termination agreement, enabling you to exit the contract with no further obligations. Our corporate team is able to advise on all aspects of termination agreements.