This Practice Note: • discusses the development of the large scale private rented sector (PRS) • considers the Government’s incentive package for Build to Rent (BTR) in...
On every construction project which requires external funding, the lender will appoint its own team of lawyers to draft and/or negotiate the various documents. Part of...
What is the Code? The Consumer Code for Homebuilders (the Code) came into effect in April 2010. It is an industry-led code of conduct for home builders and was developed...
Procurement structure As shown in the Development procurement structure—chart the relationship between the third parties with an interest in a construction project will...
The facility agreement is the principal document in the suite of documents which is needed for the provision of finance for a development or construction project. It sets...
When providing finance for any development or construction project, the lender (or funder) and its advisers will use various methods to protect the lender’s position. The...
This Practice Note looks at the principal types of policy or guarantee (other than latent defects insurance) that are currently on the market to protect homeowners and...
This Practice Note deals with the principal types of policy or guarantee, other than latent defects insurance, that are currently on the market to protect...
Structure Reasons for the contractor to form a JV There are a number of reasons why a contractor may wish to enter into a JV in relation to a development project such as:...
Many of the usual conditions precedent (CPs) for a typical syndicated loan facility will also be applicable to a real estate finance transaction. For information on those...
The development documents are key to any real estate finance transaction involving the development of property. They deal with the nature of the development, the...
When a bank or other finance provider decides to provide funding for a construction or development project, it will often appoint a project monitor (or monitoring...
This is an example of the structure that a development project may take. The documents and structure involved in any particular project will depend on which parties are...
What is a facility agreement? Many construction projects, particularly larger ones, require external funding from banks or other lenders to finance them during the...
In a construction project, the contractor’s contractual relationship under the building contract is only with the employer. However, in most construction projects, there...
Choosing a structure Unless promoted by a single entity (whether or not with mortgage funding) many developments take place through collaboration. Contractual and...