We are in the process of expanding and updating our Due Diligence Guidelines which aim to assist those making secured loans against UK real estate. These were originally produced by a working group launched in late 2013 after a successful seminar in late 2014 at which due diligence challenges were revisited against the backdrop of a strongly recovering market after the shock of the Global Financial Crisis.
The intention is that, after updating the underlying guidelines and some industry consultation, the package will become a useful tool for lending firms and a best practice standard for non-originating investors. The update will include a more thorough treatment of construction finance due diligence and insurance matters, incorporate UK tax considerations, and reflect the introduction of minimum energy efficiency standards.
The working party currently comprises Simon Chadney, Herbert Smith Freehills LLP, Klaus Betz-Vais, Lloyds Banking Group and Guillaume Gruchet, Bank of America Merrill Lynch, with others providing specialist input. The updated guide is expected to be launched during the course of 2019.
Please contact a member of the working party or Peter Cosmetatos on +44 20 3651 5696 or firstname.lastname@example.org if you have questions, suggestions, or would like to get involved.