Solicitor Role

The role of the solicitor is to:

  • act for the investor and no other party to the transaction;
  • perform detailed due diligence on the borrower, guarantors, loan scenario and security;
  • prepare security documents and a loan syndication deed if applicable;
  • prepare a certification as to title (recoding all due diligence carried out and certifying the investor will receive good title);
  • act on the settlement of the advance through the PEXA electronic conveyancing system;
  • tally the votes by syndicate members throughout the life of the loan (if there is a syndicate);
  • act on the enforcement and power of sale should the loan go into default;
  • act on the discharge of the mortgage when the loan is repaid.