Security trustee services

As the top trustee in the housing association sector, we hold securities on behalf of banks and other financial institutions.

Where do security trusts come in?

If you’re a borrower or a lender, a security trust can make refinancing easier and cheaper by giving you the flexibility to:

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Find out more about our trustee services.

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  • Charge properties to the security trustee on acquisition or post development
  • Use properties as an 'unallocated' element of security for a new loan
  • Move security between lenders without discharging the underlying security

Specialists in social housing transactions

For Registered Providers of Social Housing (RPs), our structure comes with several clear advantages:

Feature

Benefit

  • Properties can be charged to the security trustee on acquisition or immediately post development
  • All required documentation available on completion; mortgagee’s/lender’s view can be considered when negotiating agreements with external parties like the Local Authority
  • Properties can be as an “unallocated” element of security, for use as security for a new loan
  • The security is charged to the trustee within a more achievable timescale as the units are not needed for a specific loan; problematic schemes/properties ironed out pre-financing
  • A security can be moved between lenders with no need to discharge the underlying security
  • Reduced Land Registry costs as units can be reallocated
  • Regular property reconciliations
  • Third-party confirmation that its figures are correct
  • Quarterly or half-yearly reports sent to lenders
  • Reassurance for lenders and a more open relationship with RPs as a result
  • A security can be held on a specific or numerical basis
  • Greater charging flexibility

 

 

Highlights of our security trustee services

  • We provide a review of, and consent for, movement or amendments of securities
  • We ensure that parties comply with all obligations before releasing securities (or secure investors’ consent if the parties fail to meet their obligations)
  • We monitor figures to ensure absolute accuracy
  • We can test covenants as part of the Agent role