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Why is an LPA receiver appointed?

The act of appointing an LPA receiver enables the lender to exercise a degree of control over a secured asset whilst keeping its distance from the risks and responsibilities associated with it. Examples include business rates on unoccupied commercial property, maintenance and repair obligations, licensing and regulatory requirements in relation to the management of houses of multiple occupations (HMO’s), etc. The LPA receiver will become the ‘buffer’ between the lender and manage these risks.

What does an LPA receiver do?

  1. Takes liability away from the lender
  2. Manages the efficient sale and management of the property to recover debts

The responsibility of an LPA Receivers is to administer the management of the property, collect the rent and, if required, dispose of the property. If the property is unoccupied but is suitable for letting, our appointed management agents may be asked to find suitable tenants. Any rental income generated will be applied to the Customer’s mortgage account. Although no two receivership cases are the same, we’ve listed the typical steps taken for successful debt recovery so if you have any questions, do not hesitate to check out our website and give us a call as we offer a free 1 hour consultation. Yes that’s right FREE!

Case Study Example:

A example case study in in West London and between a father and son. They’ve got a house in Hayes and they’ve also got a BTL property in South London. And basically the house is facing repossession and the property in question the property that is located in south London had an LPA receiver appointed on it by the lender bank. We managed to re-bridge the buy let property by doing a desktop survey with another lender.

We managed to convince the bank to actually agree with that (but a lot of banks don’t normally do that). So we managed to refinance in the end. With regards to the house which was being repossessed because they hadn’t changed the mortgage for about seven years, built up barriers, was actually being held up for a repossession.

So we managed to stop the eviction for the home repossession, and we managed to this case get a 56 day stay in court on the home being lost. We managed to get the refinance through a regulated lender from our panel. This was very complicated because the person that owned both properties was very difficult to get hold of. And it was very, incredibly disorganized.

 He hadn’t told his parents what type of trouble he had got them in. So we had to actually deal with the smoothing of family to make sure that the father isn’t really ending up getting brutally angry with the son who is actually in control of all the finances. So that was another very successful case study. So a lot of case studies there, which I’m not really going into all the detail of the complexities of what happened, just giving you the end result.

 But those were some of the most satisfying cases that we’ve had where we’ve bailed people out of very difficult situations and got them back on their feet.

So anybody out there that’s got any problems with LPA receivers, then do get in touch with Lakhi Singh The property fixer who is here to help you deal with any eventuality

If you are looking to grow your portfolio and buy assets to help people with financial problems, you’re always looking for buyers looking to help people these types of predicaments to do get in touch. Number three; it’s a very friendly service. We’re also very professional because we’ve been in industry for a long time.

So what more can I say Lakhi Singh Property fixer. We’re here to help with stopping LPA receivers just to make it clear if you are a homeowner and you are looking to get out there and you’ve got problems with repossession, then we also specialize in stopping home repossession as well. But this instructing LPA receiver is one of our core areas of work, but we can help stop repossession across the board.