We are looking to fight the LPA receivers who are appointed by the bank to make sure that the client can take back control of their property. So we use a number of strategies combat the appointment of LPA receivers.

One way we would look to assist you in a situation where your property may have had LPA receivers appointed on your property is via a more legal aspect, hence why the important question can be asked:

Can someone be acting as your ‘agent’ without the correct paperwork in place?

If you really understand the situation, the LPA receivers are saying they are the agent of the borrower, but they can’t just say in the statement, surely there’s got to be some documentation from power of attorney or something like that that allows for somebody else to come along and act as you.

And is it possible for somebody who is a company or an organization to be acting for an individual?

So the bank can actually appoint anybody they want at any point in time (within reason), and they typically tend to appoint estate agents, surveyors, a law firm or an insolvency practice.

So, the question is, can the law of Property Act 1925 be applied in New Properties?

Whether the property is new or old, The Law Property Act 1925 can still be applied so long as the property for commercial uses and in case it is a residential regulated mortgage, it would have to have a special appointment or restructuring of the loan or even the signing new terms.

Once a property is regulated and an owner buyer wants to transfer into a buy to let property and become an unregulated or a commercial loan, you will be required to agree new terms signed and it should be a new loan to value. It should also have a new rate. But most banks may not do that. They just actually allow you the change of use, and they ask you to change insurance policy. They do vary the interest rate that you have to pay for that borrowing because it’s a higher risk in that matter.

Are they then breaking the terms not giving you a new term to focus on?

Well, they’re not breaking any terms because they haven’t signed up to any terms with you in relation to LPA receivership. So they can only apply the terms if you’ve signed up to them. But if it’s a regulated mortgage and you’re living in the property but you’re trying to move out to get it into commercial terms.

We’re going to finish off today an interesting topic underselling whether the law of Property act 1925 can be applied in new homes. we’re talking about the fact that the market now is the floated rising again, property value is going up.

Well, yeah. I mean, there’s a huge amount of demand and not enough supply. So if you have any LPA receiver issues whatever type, then we are the specialist in looking at, assessing and finding out really whether you’ve got a chance of actually dis-instructing them. And we’ve also got the expertise in finance. We have got specialist lenders that can actually refinance you out even if the property is in bad condition. Here, receives a ship. The if the numbers are two type finance and you haven’t got also have access to a lot of cash buyers that are happy to look at potential JVs or otherwise to bail you out the situations.