As part of its real estate practice, Triton Law represents both private lenders and borrowers, providing guidance in these unique transactions.
Private lenders, often capital corporations, seek a yield on their loaned capital and prioritize the borrower's security rather than credit score. These loans are typically shorter-term, ranging from six months to one year. Private loans may have interest-only terms or no interest initially, with interest collected as a lump sum when due.
Private mortgages play a crucial role in the real estate market, enabling parties who may not meet conventional lender requirements to fulfill their obligations and stay in the market. To compensate for the higher risk, private mortgages generally have higher interest rates compared to traditional lenders. Our counsel can assist private lenders in securing their interests through a comprehensive package of documents, with solicitor fees typically covered by the borrower.