Mortgage recovery services
We serve mortgage lenders in many ways.
MORTGAGE REPOSSESSION
Our mortgage repossession team combines many years of experience with advanced technology to provide you with a highly effective volume mortgage repossession service.
SALE OF REPOSSESSED PROPERTIES
We integrate seamlessly the sale of repossessed properties in our repossession process. Our team deals with any security or conveyancing points that may arise, the discharge of the mortgage and advises on the distribution of any surplus.
BUY TO LET
We are instructed by national lenders in buy to let collections and repossessions. We advise on the host of problems that these cases can involve, including:
- LPA receiverships.
- Tenancies and tenant rights.
- Obtaining vacant possession from tenants.
- Mitigating lender's obligations to tenants.
- Rent arrears.
- Legal liability and cost re-imbursement for repairs, state and condition.
- Non-cooperating borrower landlords.
- Unauthorised tenancies and other occupiers.
- Missing tenancy documentation.
LPA RECEIVERSHIPS
Where property is tenanted, Lenders often wish to avoid taking possession as this may expose them to:
- potential civil and criminal liability as effective landlord.
- the usual obligations of a mortgagee in possession.
- management headaches they are not geared up to handle.
We deal with all legal aspects of LPA receiverships including appointment, validation of appointment and exit.
EVICTION OF TENANTS
This service is important to Lenders, particularly with buy-to-let properties and unauthorised lettings of supposedly owner occupier property.
MORTGAGE FRAUD and PROFESSIONAL FRAUD
A specialist unit deals with mortgage fraud by borrowers and professional fraud which may involve solicitors, agents, valuers or brokers.
PROFESSIONAL NEGLIGENCE
We seek redress for Lenders where surveyors, valuers or solicitors may have been negligent. Conditional fee agreements backed by after the event insurance are available to minimise Lender’s litigation risk exposure.
SOLICITORS COMPENSATION FUND CLAIMS
We advise on and prepare claims on the Solicitors' compensation fund.
SHORTFALL RECOVERIES
We arrange tracing of the borrower and assessment of means. We attempt to negotiate a sensible settlement. In appropriate cases, assets or income may be traced or attached and bankruptcy proceedings taken.
DEFECTIVE SECURITY
We assist Lenders to remedy defective security so as to facilitate repossession and sale.
RELIEF FROM FORFEITURE OF LEASES
Rapid action is necessary to protect mortgages of leasehold property where landlords take forfeiture proceedings. We negotiate with Landlords and, if necessary, take court action to preserve security.
