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Standardised Certificate of Title for the housing sector
25 March 2015
To access private finance, housing association use social housing assets as security. The securitisation procedure in the sector is difficult for a whole variety of reasons which means the process takes up to 12 months when 6 months might be more reasonable and is needlessly expensive.
Part of this problem arises because of the multiplicity of Certificate of Titles in existence which varies between lenders and additionally varies dependent upon solicitors used. The differing requirements leads to uncertainty and additional time costs.
A housing association securitisation working party has developed a standardised social housing Certificate of Title format which has been universally adopted by borrowers, lenders, and their legal advisers across the sector. This is a positive move for the sector which will produce significant time and costs savings.