What we can do for you – getting your money quicker!
In the current market especially, RPs and RSLs are looking to charge properties as quickly and as efficiently as possible to access funds and extract full value. Our Securitisation Team can assist you in doing this in a number of ways.
Our bespoke Toolkit and streamlined process
We have developed an in-house bespoke software programme called the Securitisation Toolkit which is a revolutionary transaction management system that has streamlined the charging process. This “talks” to the Land Registry and our Search Providers and enables us to download (at the press of a button) all Land Registry titles, plans, MapSearches and other documents which are then automatically saved in the relevant E-Packets for each title (along with the search results). Any documents which clients provide to us will be saved in electronic form to this Toolkit as well.
The Securitisation Toolkit enables us to easily create a Titles Table/Table of Outstanding Items, detailing all items required to charge the properties, which Tables will be made available to our clients on our Portal on-line so that the Table can be seen in real-time. Clients can also access the E-Packets via this Portal at any time, both during the transaction and post-completion serving as a reliable record resource of an RP’s/RSL’s titles, anticipated valuation basis of their properties and document storage for all documents required for charging which clients can refer back to and obtain as required.
Real time updates on demand
Our Tables of Outstanding Items are available via our Portal which shows the current position on all matters in real-time. The Tables are split into items awaited from clients and items awaited from third parties for ease of reference. The Tables also identify whether clients are, based on our considerable experience, likely to achieve Market Value Subject to Tenancies (MV-STT) when charging properties or whether the value of the properties is likely to be restricted to Existing Use Value for Social Housing (EUV-SH) and, if the value is likely to be restricted, where Deeds of Variation are recommended to enable the value of the properties to be uplifted to maximise the amount clients can secure against the properties.
An experienced and well-resourced team
As the pre-eminent securitisation team in the sector, we have acted for over 130 RPs and RSLs in charging properties under facilities ranging from £1m to £2bn and therefore have a wealth of experience in securities work. We do offer a unique service, in that we have a large dedicated team which deals only with security work and we have bespoke systems designed to facilitate and speed up the charging process.
Ability to anticipate issues at an early stage
Because Partner Chris Drabble and other members of the Team have acted for lenders in taking security from RPs and RSLs in the past, we have the benefit of the experience of acting on the other side of the charging process and are therefore able to identify issues at an early stage and anticipate lenders’ requirements.
Instant quality response
We will assemble a Partner led “core team” on each transaction to deliver greater consistency of service and to enable the core team members to develop a deeper understanding of the client’s business, people and how they work. In addition, we will also be able to pull in additional resource as needed from the wider Team to meet any deadlines set for transactions. All of the Team have extensive experience in working for RPs and RSLs charging properties, meeting tight deadlines and ensuring a streamlined and smooth transaction.
Training sessions
We offer clients a free security training seminar/workshop lasting approximately two hours at which we walk clients through the charging process, explain the legal steps, provide updates on the latest developments within the sector and give practical advice as to how clients can speed up the charging process. We have delivered this to a large number of RPs and RSLs to date, who have found this hugely beneficial in improving their own charging process and procedures. If you would be interested in us delivering one of these security training seminars/workshops for your finance and development staff to attend (either at your offices or virtually on Teams), please let us know.
We offer competitive fees for the high quality service outlined above and would appreciate the opportunity of meeting with you to discuss your next charging exercise.
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020 7628 7576