TLT advises UKAR on title transfer element of its biggest transaction to date

TLT acted for UKAR on the transfer of title on approximately 90,000 mortgages securities UK-wide. The transfer of title was part of a wider transaction, which was the biggest of its kind for UKAR and included the sale of £13 billion of assets to Cerberus, with £3.3 billion of these assets being subsequently sold on to TSB.

The transfer of title was one aspect of a wider appointment. TLT’s cross-jurisdictional team also advised on the impact of the transfer on existing litigation and asset sales; project managing UKAR’s panel firms across the UK through the transfer process.

TLT’s team was led by partner, Tom McEntegart and included banking & financial services partners, James Chadwick and Katharine Kimber and real estate partners Brian Armour, Philip Collis and Kathryn Forde.

Mr McEntegart said: “To extremely short timescales, we worked closely with UKAR’s project team to plan and swiftly execute the transfer, minimising the operational impact.

“We are delighted to have advised on this cross-jurisdictional project and look forward to working with our client in the near future.”