Asset and Liability Registers
The Asset and Liability Register is a crucial document at the heart of a housing association’s observance with regulations and statutory requirements to help ensure compliance with financial reporting, asset management, and operational standards.
At Devonshires we understand the importance of having assets that are correctly classified, valued, and reported as well as the challenges this raises for housing associations in ensuring that their data is accurate and current. We have outlined a series of strategic steps that housing associations can implement with our expert guidance to efficiently prepare and manage their asset registers.
We have put together a step-by-step process to help ensure data compliance and ways in which property values can be maximised:
Step 1:
This step is focused on ensuring that all property details are correct and accords with the property ownership information held by the Land Registry. We can assist in preparing and collating information for all the properties owned by the Association including, but not limited to, postal addresses, title numbers, tenure, lease details for leasehold titles as well as details of any existing charges registered against the properties.
Step 2:
This step involves conducting a thorough due diligence review of the properties to identify any restrictions that could impact their value or future use as security. The insights gained from this stage are valuable, as they can be utilised to prepare unencumbered properties for future charging, with the assurance that any potential issues have been identified.
Step 3:
This step focuses on identifying and addressing necessary rectifications and variations to enhance the properties and maximize their value. The importance of the work undertaken as part of this stage is to prevent future legal complications, safeguard your assets, and increase the marketability of your properties. The work in this phase involves resolving any previously identified issues and negotiating variations with third parties to optimize property values. Examples include:
- Resolving boundary disputes or addressing title-related issues, which may involve applying for the first registration of unregistered land and rectifying any boundary discrepancies
- Identifying necessary property variations to enable unencumbered properties to be used as security at an increased Market Value – Subject to Tenancies (MV-STT) basis
Get in touch
If you'd like to discuss Asset & Liability Registers in general or explore any aspect of the process outlined above, please do get in touch with us.
Sharon Kirkham Partner and Head of Securitisation 020 3815 2560
Chris Drabble Partner 0113 733 7026
Saghar Roya Partner 020 7880 4360
Rachel Eldridge Partner 020 3815 2573
Carlos Fernandes Partner 020 7880 4374
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020 7628 7576