Funding

The company and commercial team at Carter Lemon Camerons advise on the non-property aspects of banking matters including: the documenting of loan agreements, debentures and security documentation, documentation for various syndicated loan and other facilities, and other cross charging and collateral banking documents.

Recent experience includes:
  • Major redevelopment and portfolio re-financing for a Housing Association, during which we negotiated the form of and prepared certificates of titles to meet the funders’ solicitors requirements, for the portfolio of 21 properties owned by the Housing Association;
  • Advising a Housing Association in setting up Security Trustee Arrangements to enable them to make the most of their funding opportunities;
  • Advising Housing Associations regarding the development of land on issues such as performance bonds, overage and lenders “step in rights”;
  • Advising on the election to waive the exemption to charge VAT on property, and for Housing Associations to disapply the VAT election (if unfettered by the seller);
  • Alert to the possibility of a full VAT charge arising out of a Housing Association buying from a housing developer, who may have elected to waive the exemption to charge VAT on the property. Particularly if payment is to be made prior to the laying of the first course of brick above the damp course level (the Golden Brick), and the proposed use of the building by the Housing Association for social rented accommodation or shared equity arrangement.