Legal Services for Homes England's Lending Alliance Framework
Awarded 23 Mar 2020
About
Homes England (the name adopted by the Homes and Communities Agency) awarded a contract to Womble Bond Dickinson (UK) LLP for legal services to support the establishment of a lending alliance framework.
The appointed legal panel firm was responsible for pre-instruction advice and discussions with Homes England personnel, and for preparing the Framework agreement outlining the parameters of the lending alliance, including its documentation and operation model.
The framework aimed to support SME housebuilders to build more homes more quickly through development finance at up to 70% LTGDV, with an initial 5-year term expiring 30 June 2025.
The scope covered eligibility criteria, the entire loan process (pipeline/origination, deal structuring, credit process, due diligence, contracting, Homes England accession via a Lending Accession Request, portfolio management, repayment and distress protocols), roles of the alliance parties (Agent/Lender of Record, Loan Originator & Servicer, Security Trustee, Account Bank), an ongoing periodic MI suite, and security arrangements.
The contract value was AUD 49,893.
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