Guide to giving security
Securitisation Toolkit
We have developed a bespoke in-house software programme called the Securitisation Toolkit in the Securitisation Team 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 Official Copy Entries, Filed Plans, MapSearches and documents referred to on the Titles for all properties 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 Table will be made available to 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.
First Identify the Titles
One of the first steps, which needs to be taken when putting security in place, is to identify the titles for the properties.
All Titles for registered properties can be instantly identified from the Land Registry Portal and downloaded using our Securitisation Toolkit programme.
Whilst there is no longer any requirement by the Land Registry for Land or Charge Certificates to be provided to them when applying to register any disposition with them following the Land Registration Act 2002, it is still preferable to try to locate the title deeds for the properties as they may contain other documents which are relevant, e.g. NHBC Certificates for properties which are less than ten years old and Restrictive Covenant Indemnity Policies in respect of any breaches of covenant.
If the deeds are not held by Devonshires, the Registered Provider should ask whoever is holding them to send them to Devonshires. If the Registered Provider does not know where the title deeds are and it is believed that they contain valuable documentation, we can try to trace these via the Land Registry or other third parties.
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