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Kent housing association seeks legal services provider to advise on moving valuation basis for stock

A profit for purpose housing association in Kent is seeking tenders for the provision of legal advice and due diligence in respect of moving to MV-STT (market-value – subject to tenancy) valuation basis for its LSVT (large scale voluntary transfer) housing stock.

Golding Homes said it requires legal advice to support:

  1. Legal due diligence to uplift value of the LSVT stock by obtaining new Certificate of Title on all new properties for which it wishes to achieve MV value for.
  2. Cover switching of excess security between lenders or releasing security as appropriate following the MV uplift stage.

The housing association said it would reserve the right to seek additional support around rebalancing the security across lenders to maximise the overall nett effect/benefit of the security valuations against the profile.

It will also reserve the right to seek the provider's support for additional duties related to rapid turnaround commissions.

The contract, which is estimated to be worth between £100,000 and £500,000, is expected to run from 2 December 2019 until 2 November 2020.

Established in 2004 following the transfer of homes from Maidstone Borough Council, Golding Homes manages 7,579 homes and provides services to more than 20,000 people.

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