Dubire and LPA Receivers

[dubire]

Can anyone advise me?

 

I recently had an LPA Receiver appointed on my property because my mortgage company did not set up my direct debit (lost my dd form) and as its a buy to let property, I did not check the money wasn't being taken (my mistake)...

However, an LPA Receiver was appointed, but as I didn't think it was fault I had fallen into arrears (had the mortgage money in my account) all they had to do was take it.. but they wouldn't. I instructed a solicitor to deal with the morgage company and receivers and as a result, I now have the property back in my control.. I had to pay 6 months mortgage up front, the arrears and approx £3k to the receivers, which is what I am hoping to fight for them to justify. From the start to end of proceedings it was 3 weeks. I have had to pay all the money up front before the mortage company would consider taking back me back as a customer.

I have recently had a breakdown of the £3k: £1k for the receivers fees, even though on their letter to me it states, £500 & VAT if the account is redeemed before sales agents are instructed; £1,000 & VAT is the account is redeemed after sales agents were instructed. In this instance, no sales agents were instructed at all.

They have charged me £850 for solicitors fees and disbursements and another £800 for Property Management fee and disbursements.

There was no property management, no contractors entered the property etc. and nothing was changed legally on mortgage deeds etc.

 

I cannot see what I have paid for. I have asked my solicitor to obtain a breakdown of each and every invoice detailing all the work they were supposed to have done..

 

Does anyone know if they are allowed to charge this much and if I can perhaps get a refund of some sort from them.

 

Thanks

[Bona]

Did you pay the recievers this money or your mortgage company it can make a difference

[pigland]

Hi all,

 

Good point Bona!

 

Dubire,have you sent an SAR (subject access request) to Mex and one separately to the LPA receiver?

[dubire]

Hi Bona.. I had to pay the mortgage company direct and they were to distribute the money which I guess they have now done. They would only lift the receivership once all funds were received, plus they only gave me 7 days to pay or my property would continue to auction...My solicitor has requested a breakdown of all invoices... yet to be received.

[dubire]

Hi

 

How can it make a difference if I paid mortgage co or LPA Receiver?

How long should the LPA Receiver be allowed to have to send invoice baack up info to me?

Thanks

[Bona]

The mortgage company can ony pass on to you the costs they pay you need to ask them for copies of all 3rd party invoices applied to your account

[dubire]

I have received copies of the LPA Receiver invoices from the Receiver but all it states is their fixed fee costs. They have since said their fee is for my property being entered into the December auction. However, I had an email on the 5th Nov from the Receiver to say as at that date, they had not yet decided on a strategy for my property.. and the mortgage company received their funds on the 13th, which included the Receivers fee. So what I need to know is within a space of a week, could the Receivers have placed my property in their next Auction without me knowing and what paperwork would they have needed to compile to do so. I will be asking for evidence of this as saying the property was listed within a week with no written proof is not enough evidence I think.

 

I have requested a copy of all 3rd party invoices about 2 weeks ago from my mortgage company but they haven't been sent to me yet. Will be chasing them today.

 

The Receivers fixed fee was £1,000 + VAT but LPA Receiver have not provided me with any evidence that sales agents were contacted or instructed or property placed in auction;

2. We do not know what work was carried out to justify solicitors fees of £721.50 + VAT;

3. The Residential Investment Management arm of LPA Recever have charged a fixed fee of £767 + VAT, but I do not know what work was carried out to justify this fee and the list of fees provided by lpa receiver suggests that these fees should be on a time basis, rather than a fixed fee.

 

I think I have paid the same amount to the Receiver as a person who has been through the whole process of receivership.

Can anyone advise what I should do next?

[caro]

I've moved these posts to your own thread to keep all your information together making it easier to follow your progress Dubire.