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Found 16 results

  1. Am currently involved in situation with a loan from Together whereby they have served default notice and appointed LPA Receivers - who are trying to push towards auction of commercial property that loan is secured on, which obviously we do not want to do. Both the Lender and the LPA are not helpful in any way and the LPA is not acting on behalf of the Borrower given that the arrears is £1,600 and the figure the LPA-R wants is just short of £4k, and the Lender is charging another £2k for appointing him! Statement of account lists various charges such as 'Property Company Management Ch
  2. I’d heard how awkward banks can be with Power Of Attorney so I was pleasantly surprised when I registered the one I hold for my aunt’s financial affairs. It took about 45 minutes and seemed to be plain sailing. Sadly all downhill from then on. I’d set up internet banking for her a couple of years ago when she could still deal with a fair bit on her own and would help her do anything she found confusing. We’ve bumbled along - if she needed things I’d tend to order them and get paid back directly from her account to mine. More recently as she’s gone into care and lost capacity I realise
  3. The appointment of a receiver(s) can be effectively challenged by scrutinising the terms and conditions of the mortgage and the contents and form of letter or deed of appointment. The appointment document must be executed in accordance with the relevant statutory provisions, which may include any or all of the following: The Law of Property Act 1925 s109(1) – Must be under ‘his’ hand The Companies Act 2006 s44 – Execution of documents - Hilmi & Associates Ltd v 20 Pembridge Villas Freehold Ltd [2010] EWCA Civ 31 The Law of Property Miscellaneous Provisions Act 1989 s
  4. Hi All, My property has been handed to an LPA reciever and I am a bit confused as I keep getting conflicting information from the lender and the reciever. They 'took it' last Wed. I still haven't had a written notice from either receiver or lender. The first I knew, I was contacted by my tenant who said someone had been round. The lender said that I had to pay all arears (£725) and 3 months in advance (£645) and fees (£1200) and ALL the charges ever placed on the mortgage (£3k+). They also kindly gave me 5 days to do so or the fees were going up another £800. They origi
  5. Morning All, A few days ago i received a letter from a company claiming to be the LPA receivers of a property i am currently renting. They enclosed a deed of appointment from August last year and instructions not to pay my landlord but instead make rent payments to them directly as well as sending them a copy of my tenancy agreement. I've had no instruction from my landlord whatsoever. Any advice on how i can validate their claim or how to correspond with them in general, all seems very dubious to me. Thanks Mike
  6. Hi, hope admin don't mind but I am looking for others like myself who have been screwed over by Natwest/RBS. I moved some of my properties to them and took out a 5 year loan facility with them in 2007 on the understanding that they would renew the loan as long as I was a good customer & paid my dues. I did pay my dues & never missed a payment but after the banking crisis they decided they didn't want to have "buy to let properties" on their books any more & demanded all the money back, including the further loans that I had taken out over a 15 year term. As banks weren't lend
  7. Hi having just found the forum we are very grateful for any help or advice regarding our position. Having been with Allied Irish bank for the mortgage on our property they simply wouldn't allow us to go on an intrest only mortgage for any length of time and wanted capital and repayment this resulted in arrears. The property was rented out unofficially with the banks knowledge of course but they didn't have a buy to let product available so would not change the mortgage. Anyway the property is now in arrears and probably in around 200k of negative equity and we spoke on the phone with the
  8. Admin if you have to merge my posts pease can this be the main one as it has a more relevant title to my problem. LPA Receivers have taken over my properties with no court order & no agreement from me. 2 of the properties are empty & the receivers are doing nothing about it, how would I stand if I were to go ahead & let the properties with full knowlege of the problem to the tennants?
  9. Hello Caggers, I'm trying to help a friend who has asked me for advice but I'm completely stumped. In fact I'm not even sure I'm posting this in the correct section. Friend has/had a bridging loan with Lancashire on a commercial property which was let out as an art shop. The intention was to switch to another lender but then there was the crash and she stayed with Lancashire longer than she thought. A year or so later the Tenant becomes unreliable with rent and in the end Lancashire appoint a LPA Receiver. LPA Receiver seems really friendly and states he is working for her and w
  10. This is my first but I have followed and read others post with interest. Please forgive me if I have posted in the wrong place as there seem to be many different forums that would be suitable. I am desparate for some advice from anyone who has similar experiences. I will try and keep it as brief as I can. In 2010 we bought a small retail business. We took at a secured loan for £145K to buy the business and the business premises. Lloyds put the first charge on the business premises, but as there was a shortfall, there was a second
  11. Hi Firstly, really sorry as I have posted this elsewhere but I think I may have not posted in the right place. We are desperate for some help and could do with some advice urgently. There are a few points. We had a loan for approx. £150K with Lloyds. This was to buy a business and business premises. The business failed and Lloyds have now appointed an LPA to sell the premises (they did give us 3 months to sell/rent ourselves but we had no interest at all). We had a letter from the LPA on 9th August. It said nothing really, no introduction as to who they were or what their
  12. Hi could someone please explain the difference between LPA & Fixed Charge Receivers? Have recieved a letter from the LPA receivers solicitor refering to the fixed charge receivers. Have ust read that LPA receivers are incorrectly refered to as fixed charge receivers but it doesnt explain the difference. Any help would be appreciated thanks.
  13. Hello I have just joined this website and would be very grateful of some assistance and advice please. I have 2 properties with mortgages with NRAM, they have notified me they are going to "help me" by appointing an LPA receiver. I have read previously on this site that it is possible to apply for a court order to prevent this using N244. Does anyone have any experience of this please? Any ideas on success rates. I have communicated constantly with NRAM and find there seems to be a change of strategy and they want the mortgages off their books at any cost to either party
  14. Hi, I went bankrupt just over 12 months ago and at the time had 15 buy to let properties. I have recently been discharged from bankruptcy and have been approached by the local council regarding council tax for the 12 remaining properties which haven’t been sold and are still in the hands of the mortgage lenders LPA receivers. I have spoken with The Insolvency Service who was appointed trustees who say the properties were placed in the hands of the lenders LPA receivers prior to going bankrupt and that The Insolvency Service has no authority over them. This means that the LPA r
  15. Hi My LL's lender has had LPA R appointed. I believe I understand most of how this works but have 2 specific questions I can't find an answer for. Does the LPA R have the legal right to chase me for a small amount of rent arrears dating from before they took over? It's less than a month, so fairly insignificant in the bigger picture. I would argue the debt resides with the LL but I'm not sure if it transfers to the LPA R. I would argue I only pay the LPA R rent as from the date they took over pro rata. Thoughts? My deposit is with the DPS and is protected but has the original LA
  16. I am not sure if this has been covered on the forum before but I have been alerted to the prospect that although my disabled husband would want me to hold LPA for him the bank may not allow me to register and use due to the fact that I was bankrupt in the past and do not have a good credit history...mainly due to job loss. He trusts no one else and really wants me to do this, he has a number of conditions that are worsening so we would like to start acting on this asap.
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