Property Variations and Rectifications
Saghar Roya
Partner
020 7880 4360
Hayley Shepherd
Associate
020 3815 2561
Our Property Variations and Rectifications Team is a specialist sub-team within the Property Securitisation Department that is focused on dealing with remedying issues affecting property portfolios. We work with clients to rectify defects affecting the value or acceptability of property portfolios, to ensure that your funding capacity is maximised by being able to charge properties on the higher MV-STT (Market Value - Subject to Tenancies) basis rather than a restricted EUV-SH (Existing Use Value – Social Housing) basis.
The team is headed by Saghar Roya (Partner), managed by Hayley Shepherd (Associate Solicitor) and comprises of a number of solicitors and other legal professionals with specialist and technical experience.
The nature of the work covered by our team includes:
- Negotiating Deeds of Variations to vary defective documents such as transfers, leases, Section 106 Agreements, Nomination Agreements and other related property documents.
- Dealing with applications to vary or modify planning permissions.
- Reviews of planning and development documents to identify any funding issues
- Rectifying boundary issues affecting titles
- Submitting applications to the Land Registry for first registration of unregistered land
- Rectifying title defects
- Providing training sessions to Councils to discuss the importance of the gold standard mortgagee protection clause (MPC) wording as created by the NHF’s Property Finance Working Group.
Use our instant valuation calculator below to discover how much value you could add to your property through a variation or rectification:
Use our instant valuation calculator below to discover how much value you could add to your property through a variation or rectification:
We currently offer bespoke workshop training sessions covering:
- The importance of an adequate MPC within any document.
- The issues that can restrict the value of your properties.
- What can render properties to be unacceptable for charging.
- Issues associated with unregistered land
If you would like us to deliver any workshop training sessions, either via Teams or in person, please do let us know.
Our recent highlights:
Walsall Council
We have led discussions with Walsall Council’s Planning and Legal Team to agree standardised MPC wording which we can use when agreeing Deeds of Variation on behalf of Clients. We are currently acting on behalf of WHG to agree Deeds of Variation and to amend planning permissions which restrict the use of properties to affordable housing with inadequate or no MPCs. This transaction will uplift the value of 756 properties in the Walsall area and will allow other RPs to benefit from the standardised wording in the future.
Midland Heart Limited
We acted on behalf of Midland Heart in rectifying boundary issues where parts of the building or land within the property is unregistered due to issues with plans when the properties were transferred. Once the first registration applications are complete at the HM Land Registry this will allow Midland Heart to charge 165 properties.
Grand Union Housing
We acted on behalf of Grand Union in rectifying a Stock Transfer which affected 2,792 properties and a Disposal Clawback Agreement which affected 2,804 properties. The completion of these Deeds of Variation allowed Grand Union to uplift the value of 5,596 properties.
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020 7628 7576