| Staircasing where seller is Lender
| This wording addresses a simultaneous 100% staircasing and freehold reversion transfer where the seller is a mortgagee in possession rather than the original shared owner. It explains the mechanics of Special Condition, specifically how the purchase price is apportioned to the landlord to trigger the direct transfer of the freehold to the client on completion.
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| Potential Breaches - Repossessed Properties
| Wording clarifies that while no active breaches of restrictive covenants have been identified, the seller’s status as a mortgagee in possession prevents them from providing the standard personal knowledge or warranties regarding historic compliance. Shifts risk to the buyer by confirming that the title review is strictly limited to the provided documentation without the benefit of the usual seller disclosures.
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| Security: The Debenture
| Draft explaining that the loan is secured by a comprehensive Debenture creating fixed and floating charges over the Company’s entire asset base, including property, tangible equipment, and intellectual property. It alerts the client to the lender's significant control and power to appoint an administrator, specifically directing their attention to the "Charged Assets" and "Charging Clause" for a granular understanding of the document..
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| Leased Solar Panels - Potential Issues
| Warns the cash buyer that while leased solar panels do not currently impede their purchase, the arrangement frequently creates significant eligibility issues for mortgage lenders. It highlights the potential for future resale or refinancing complications and offers an optional specialist data report to quantify the current and predicted market appetite among lenders.
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| Flooding to the Cellar
| Shifts the focus from search results to the seller's specific disclosure of historic cellar flooding, framing it as a critical physical and insurability risk rather than a purely legal one. It provides a clear directive for the client to cross-reference this disclosure with a professional survey and an insurance quote to prevent future insurance/financial exposure.
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