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Welcome to Blogs of Immediate Bank Claims

So first, we are going to cover a lot of the litigation side. So, all the topics I’m going to cover is number one is litigation, stopping repossessions, LPA receivers, negative equity which fall under legal problems. There are two types of repossession. One is for a personal homeowner, and the other one is for a commercial owner of properties, which could be BTL Properties or an office block or industrial unit, anything that’s been lent on an unregulated basis.

Unregulated lending is where loan has been given by a company that done on a commercial basis. The laws related to commercial lending very different from regulated lending. Regulated lending is typically when you buy something to live in. Courts tends to be a little bit more favored in terms of the owner of the property with residential properties with regulated lending rather than commercial properties with unregulated lending. This is due to commercial properties which are unregulated fall under the Law of Property Act 1925 which means that if the owner breaches the contract with the lender bank, the bank is entitled via the Law of Property Act 1925 to appoint an acting Fixed-charge receiver or LPA receiver to take possession of the property immediately.

The second thing I’m going to cover is bridging finance, development funding and business loans.

The third topic I’m going to cover is doing quick sales or get you fast sale across the board over the line.

So you have to be very careful in terms of how you trade in the market, because one false move could be a slippery slope in terms of dealing with the receivers who could potentially eat up your properties. Some of the type of case studies we’ve had pretty much all sorts of regulated type homeowner issues where the homeowner may not be able to work that’s going into areas or somebody’s passed away, they’ve lost their job or they gone into depression etc.

Typically, what happens is the general situation usually is that you have gone into areas, the first thing that tends to happen is the bank will call you and send a letter saying you are in areas and you need to pay us otherwise we’ve got the right to repossess. A lot of banks do try and be helpful and try to negotiate a deal for a repayment package or a holiday. So there are many ways out there to try and deal with the problem. So knowing what to do and how to do it is quite important. The above example is a basic situation that exists in terms of helping people with property problems or homeowners who actually face repossession. is that then there is that been taken to court and the court said you got 56 days to either sell the property or finance it or come up with a solution. We get quite a lot of these cases where people come to us about five or ten days before they better get repossessed.

We typically charge a fee and we assess the situation and provide the best solution in favor of our clients subject to their predicaments. The toughest situation is when the bailiffs already been appointed. So the evictions already been given 28 days or 56 days to leave the premises and after the 56 day, they will send the Bailiffs in to repossesses the property. Say that on this state we’re going to come and it which could be ten days or 20 days after the date by which you are meant to have left the property and given it up.

In between that time we get a lot of people come to us last minute saying, can you get us out of that situation?

So, we have had a lot of successful case studies, but we are not going to claim that those circumstances that the chance of success are the least likely, that we’re going to be able to actually solve the problem for them. So when they get to that stage, which is a when they get to the stage where the property is about to get repossessed and the Bailiffs appointment is a couple of days away. The chances of us getting their property back are the lowest because the situation they’ve got very tight timelines.

We have had to go to court literally in the final hour and come up with a solution either tends to be typically in that situation tends to be a sale or cash with the cash buyer or an exchange of the property with a cash buyer or even just buying time for the individual which in some cases is all that clients need. Or it tends to be a legal issue. A loophole that we found that allows indicates the and up to a point. So stopping repossession itself is actually quite a big area.