Devonshires offer a service reviewing documentation containing mortgagee protection clauses to identify any material issues and to enable you to achieve maximum value when charging properties.
How we can help
We can review mortgagee protection clauses in draft Section 106 Agreements, Nomination Agreements, Transfers, Leases and other documents for properties which you are in the process of acquiring/developing and advise you of any amendments necessary to satisfy current Lender requirements, thereby enabling you to achieve maximum value when ultimately charging the properties.
We can also review mortgagee protection clauses in existing completed documents and advise you whether these will similarly be acceptable to a Lender and enable you to achieve maximum value, or whether these would need to be amended by way of a formal Deed of Variation.
Our experience
Our Securitisation Team has been established for over 30 years and has unrivalled experience serving the social housing funding sector, acting on behalf of RPs, RSLs and their lenders. We are therefore well placed to advise on the acceptability or otherwise of mortgagee protection clauses and their often dramatic negative impact on the value of a portfolio of properties being charged.
Our fee
We charge a standard fee for reviewing mortgagee protection clauses and suggesting any required amendments and also have a standard fee for dealing with Deeds of Variation (where these are identified as being required).
For further details of these fees, please contact Sharon Kirkham.
To receive more briefings and invitations from Devonshires, click here to join our mailing list.
020 7628 7576