- 18 April 2024LMA publishes guidance note on the Building Safety Act 2022
Today, we published our guidance note on the Building Safety Act.
The Building Safety Act 2022 (BSA), which came into force 1 April 2023, is primarily intended to improve the design, construction and management of higher-risk buildings in England and Wales in the wake of the Grenfell Tower fire in 2017. The BSA is the most wide-ranging and comprehensive legislative reform affecting the built environment in decades.
Our new guidance note includes a number of key points for consideration for bank and non-bank lenders, and their advisors, when using the LMA’s template real estate finance facility documentation in circumstances where the BSA may apply.
The guidance note was produced following a roundtable discussion involving a number of our members earlier this year. We would like to thank everyone who attended the roundtable meeting and all our members who have supported this project. - 07 December 2023LMA Publishes Duty of Care Agreement and Subordination Agreement for use on Real Estate Finance Transactions
The LMA is pleased to release two new documents for use on real estate finance transactions as part of its ongoing work to improve efficiency in the syndicated loan market.
- 19 April 2023LMA publishes updated real estate finance intercreditor agreements
We have published updated versions of the LMA intercreditor agreement for real estate finance transactions, and the LMA intercreditor agreement for real estate finance transactions (contractual subordination only). Amendments have been made to these documents to reflect the transition to risk-free rates as well as the UK's withdrawal from the European Union.