buy em back!! chillin long,just thinking cre8tive here! perhaps you could get a few guystogether to stump up some funding,combine that with some bridging (in new limited cos) name as im sure youd be suffering credit sore wise,-and buy your properties back! you know them,run them,let them etc een if you had to give away major equity at least you can stay in the game! BOMBS AWAY

QUICK HI TO ALL does anyone know how much these lpas actually charge for their insurance?? its REPULSIVE i have a case where my LPAs are charging £175 per month,my current portfolio policy could have properties added for £100 for the YEAR!! now ive seen various references to 'acting reasonably' in 1925 lpa charter. In my case as im sure CHILLINLONGS there could be thousands of Pounds to be credited to the various accounts,this could tip the scales and obviously could be another demonstrable point to the courts. does anyone have any ideas how to convince the lpa companyto use the lndlord insurance (like for like cover)albeit at a 10'th of the price???? BOMBS AWAY

Hi all recieved this from BJB LPAs However, I must warn you we are being advised by tenants that, as recently as this Saturday (15/05/2010), you have accessed the properties to advise occupiers not to deal with BJB Lettings and instead to continue to deal with you. This is clearly an unacceptable position and we have no choice other than to refer this situation to the Society's legal advisers. If an amicable dialogue in this matter is to be established it is imperative you immediately cease contacting the tenants residing in these properties. Bombs Away

ok all heres a live one around 2.4m of lending on property that realisticly today wouldnt fetch 1m at auction. loan rate is unsustainable at 7.25% after r and m,voids,etc lpas appointed,bank agrees to a meeting. do we: a)go in guns blazing -demanding new rate,breakage costs added to arrears. b)tell them we'll work in conjunction with lpas and fear for 5 years theyll come after you? c)ask them wipe off 1.2m off debt,and grant new lower rate? any takers? BOMBS AWAY

MUNGOS MUM a bleeding cheeck!!! gnite all Bombs Away

CARO Thanks for the advice! and ill be calling monday ill also post up my progress !! what type of actio can they or do they take. ive sent all manner of threatning emails to BJB as they have not to date returned a single communication. they obviously either are not scared or know what will be done and are not bothered. have you encountered this before? BOMBS AWAY!

patrikq1 my point exactly whats a LPA based in stoke doing trying to run a busy portfolio in manchester/bolton-its 100 mile round trip to collect a tenner top up on rent??:confused: also this is my second month with them: there is so much missed opportunity (VOIDS that could be fulled) with these guys if repossesion proceedings ensue can i loose other properties that are held in the same entity but with other banks? ie if i know that ship is slowly sinking {only because they wont either adjust the punitive rate of interest,2)allow me to continue in conjunction with the lpas to do what i do best ie let,run and manage the portfolio} -how can i protect my other ships from them trying to come after equity (which currently there isnt any) BOMBS AWAY>

the lpas are a firm called BUTTERS JOHN BEE. BY THE WAY they dont return faxes,calls,emails or messages. they dont do any repairs,do any adverising or lettings or provide any statements . BOMBS AWAY

patrickq1,chillinlong and mongos mum this forum is just arming me with so much ammo thanks a mill, in communications with various banks and building societies im really having the confidence and fortitude to say it like it is:smile:. im getting replies like _whos is your councel? ,who represents you? and just wanted to say thanks again. a few important issues have arisen. firstly 1.i searching for recent cases where LPAs have abused their powers or misprepresented the landlords and have beed taken to court,unfortunatly there doesnt seem to be any cases that i can find. obviously presenting lpas with cases would scare them stiff and hopefully bring them to the table where amicable solutions can be discussed without all out repossesion. secondly i have a portfolio of very intensive managemnt (100 plus flats,bedsits and studios's) the building society in question has over lent -way way to much and my repayments are not realistic by any chance. after deducting 25% for vacancies,repairs,costs,etc theres no way to service thge loan.theyve been flagged up by their shareholders for getting into messy lending (developments,new build,commercial etc) that they have zero experience in. my point is thus: now that the SH_T has hit the fan there is no-one at the society to deal with(hsbc has to their credit a SSU {special situations unit}-they reduce interest rate,extend term,advance capital-whatever it takes to get the loan performing and avaoid repossesion) there is no-one and i mean no-one at the societ execpt a stuck up bunch of snots!!who wont talk to one of their serfs!! i have the a plan to relet the empties,renovate the tied,and witha decent interest rate considering funds cost them near zero today they have kept me at over 7% on a five year fixed deal. on a 2m loan they styand to loose 1m easy-and they not bothered-well i am as its a very savable situation if they would just loosen the vice a bit and let me get on with it!!! any suggestions. BombsAway

Hi Guys Patrikq1 those links to ministery of justice were really insightfull. do you know of any cases in law where LPAs were found guilty? thanks and regards Bombs Away.

Hi guys patrikq1-keep it comming bro! ill post up my mortgage terms and condition.its in a pdf file now it doesnt mention lpa or power of attornys anywhere what it does say is 1>facility is for the benefit of successors,assignees or transferees. does the 1925 act allow any property lender to appoint an lpa-regardless of mortgage terms and conditions? because thats the opening line of the letter sent to my tennants informing them of their appointment? Does anyone have a concrete case example in law of lpas having been either: removed or fined,penalised etc>>>?? in the mean time heres a great link to stop ,postpone reposesions. http://www.opsi.gov.uk/RevisedStatutes/Acts/ukpga/1970/cukpga_19700031_en_5

Patrickq1 and chillinlong and EVERYONE ELSE-thank you knowledge is power. 1.LPAS can only be appointed if you recieve an official demand for all arrears delivered to registered address. 2.Without that their appointment is illegal.(trespassing,etc)._{a LPA TOLD ME THIS -MICHAEL PARKES SURVEYORS LTD} 3.most mortgage deeds give banks right to appoint lpas-it has to be expessly written in mortgage deed-does anyone know more about this...??? incidently my solicitors had a fire all my conveyencing docs were destroyed-any tips?-am i entitled to anything?(i just want them back so i can examine if my mortgage deed allows lpas appointment.) 4.lpas have to act in your interest ie lettings ,cleaning,collections etc 5.anybody can be an LPA-even your gran!theres no qualification,exam,registration etc Questions: 1.if they are not acting in your interest can you sack them-how? 2.why do they take keys and change locks -whats that about. 3.if they act in charge and you dont object because you never realised you could-can you later on once you wiser? BOMBS AWAY!

Hey Chillin long- Do i remember you from singing pig days? i used to post under Gorilla in those days! Bombs Away

HI all Had lpas appointed overnight to 55 flats! no letter,explanation,warning nothing! my question is in relation to previous posts - 1.How do i know if the lpa clause is in my contact? ive been through it with a fine tooth comb and theres no mention! so 2.if its not in there how can they be appointed or does it not need to be included for their apppointment. 3.can i continue to get into my buildings,liase with tennants regards repairs maintainace etc,are their any reprisals from the bank or the lpa? 4.can i continue to grant tennancies to tennants (and pay over monies to bank) thanks Bombs Away!8-)