Swinburne Maddison, one of the region’s fastest growing law firms, has completed its first commercial secured lending transaction for Atom Bank.
With offices only a short distance from the UK’s first digital only bank at Aykley Heads in Durham, Swinburne Maddison have been in contact with staff at Atom Bank since its formation and expressed an interest in being involved in the bank’s legal work.
A specialist sub-team at Swinburne Maddison, which is led by partners Kate Stephenson and Simon Robinson, has been appointed to provide advice with regard to commercial lending.
Atom launched its offering to SMEs with a simple secured loan and a single determined view of making the life of the SME better, delivered through Atom’s panel of approved intermediaries.
For its first transaction, Swinburne Maddison has been involved in the refinancing of a commercial property, valued at around £500,000. Commenting on Swinburne Maddison’s appointment to the commercial lending panel, Kate Stephenson said:
“We are thrilled to have secured a place on Atom Bank’s commercial lending legal panel. The bank is right on our doorstep, so it is great news that they have brought work into the area and have forged relationships with local firms.
“Thanks to our extensive banking sector experience which has seen us acting for numerous banks in similar transactions, we have the expertise across various departments to deal with the work and our size enables us to do so efficiently. On this occasion there were several titles involved in the transaction together with various leasehold interests, so our first instruction was a little out of the ordinary.”
Head of Securities & Business Banking Support at Atom Bank, Stephen Pratt said: “This is one of the first commercial loans we have completed and the partnership has worked well. We are delighted to welcome Swinburne Maddison onto our commercial lending legal panel and I hope this will be the first of many successful transactions we work on together.”