The key brands that we have are Immediate Bank Claims which specializes in stopping repossession. So we deal with N244 applications, we help with the mortgage arrears type problems, Evictions and LPA receivers issues also. We help with anything to do with defaults or debt settlement. So any type of issues that’s related to banks, you’re coming to log in with the banks about your assets or your debts. Okay, we go even as far as Negative equity.
The primer of today’s discussion is around LPA receivership and I’m going to try and get into a bit more detail about what our process is and how we can help.
What Is LPA Receivership?
The Law of Property Act 1925 gives the lending bank the power to appoint a Receiver of rent. An LPA Receiver can be appointed after only 2 months payment arrears. The LPA Receiver (typically an insolvency practitioner or estate agent) has a broad spectrum of power and will add significant charges to your account.
The LPA receivers’ role is to oversee the management and eventual sale of the property in order to recover debts. Most importantly, an LPA receiver can arrange the sale of your property with a sitting Tenant, which is likely to attract a much lower offer.
How to Stop an LPA Receiver?
If an LPA receiver is dedicated to protecting the interests of the lender, at Immediate Bank Claims, we are dedicated to protecting the rights and interests of the borrower. With over 15 years of experience dealing issues revolving around repossessions and LPA receivers, we are able to help stop the LPA receiver from taking possession of your property. Contact us today and allow us to assist you through your available solutions.
How Can We Help?
As there is no direct statutory power to stop an LPA receiver, our advice and guidance could be crucial to preventing receivership or reversing it if they have been instructed.
First, we will challenge the validity of the decision and certify that the appointment is well-founded. If it is, we will then help attempt a negotiation with your lender to give you more time to make repayments or to refinance the debt in some capacity. Our priority is to help protect your investment and ensure that you remain as in control as possible.