Specialist team for property variations and rectifications

In any securitisation transaction, it is not unusual to identify a number of factors that may render properties to be unacceptable for charging or restricting the value of the properties to an EUV-SH (Existing Use Value – Social Housing) basis.

We recognise the detrimental impact that this has on Registered Providers and their ability to utilise their property portfolios. As a result, we have a dedicated team that specialises in working with Registered Providers to rectify issues affecting property portfolios to ensure that our clients maximise their funding capacity by being able to charge properties on a MV-STT (Market Value - Subject to Tenancies) basis rather than an EUV-SH basis.

The nature of the work covered by the team includes

• Negotiating and agreeing Deeds of Variations to vary defective clauses under documents such as transfers, leases, Section 106 Agreements, Nomination Agreements and other related property documents.
• Dealing with applications to vary or modify planning permissions.
• Liaising with the Land Registry to rectify boundary issues affecting the title to the property.
• Dealing with applications to the Land Registry for first registration of unregistered land.
• Following the successful completion of all variations and rectifications, liaising with lenders to secure an uplifted value where the properties are subject to an existing charge.

The team is headed by Saghar Roya (Partner) and managed by Hayley Shepherd (Solicitor) and also comprises of 3 Solicitors and 5 Paralegals with a focus on providing a streamlined, efficient and cost-effective service.