Recovering property from LPA receivers

[Landlord62]

Hello :yo:

I hope someone will be able to advise ,I will try to keep it short and too the point

I have two properties that unfortunately fell into arrears.
The arrears have been made worse by rubbish management by the LPA receivers,and I have managed to successfully get alot of fees and charges refunded, but thats another story.

One of the properties is now in credit as tenant has been paying LPA directly,the other still in arrears but has tenant paying direct (rent covers mortgage with extra on both )

Mortgage co has not got a repossession order but after excercising their right to sell and found they couldn't decided to continue to let properties.

I have been communicating with mortage co and LPA to see if I can recover at least the property that is in credit.Mortgage co say no because other property still in arrears .

Considering the complaints I have re the LPA I am hoping mortgage co will change mind and after their means testing etc may disintruct the receivers and let me have my property back , currently every month the LPA receivers find maintenance(that I have proved to be disputable ) to do that takes each months rent so putting me back in arrears .

My main question is can I use the form N244 to regain possession of my own property(even though mortgage co do not have a repossession order themselves)

Question 2 is ...Is it legal for mortgage co to instruct LPA receiver if there is not a clause in mortgage t&c's to say they can .

Thanks for taking the time to read,hope to hear soon .

[CYNthesys]

Re: Recovering property from LPA receivers

Re question 2 - are you absolutely sure that the T&C dont include a clause empowering the lender to appoint LPA receivers?

Is your lender Mortgage Express by any chance?

[Landlord62]

Re: Recovering property from LPA receivers

Hi CYNthesys

There is a clause saying that on default they will hold the right to excercise their power of sale.....which they did but found they could not sell property.

But nothing to exactly say they excercise any right to appoint LPA..although i assume these have to be appointed to sell property but can they then continue if letting .

No they are not Mortgage express

[CYNthesys]

Re: Recovering property from LPA receivers

Hi, Im no expert of this but I know several other people who are having dire problems with LPA receivers.
Who are the Receivers?
Think I would really need to see the mortgage T&C to get a better idea

[Landlord62]

Re: Recovering property from LPA receivers

The receivers are Redbrick....

Form N244 is the form used to request a judgement is set aside, but as the receivers or mortgage company do not have a repossession order would it mean there is not judgement to set aside?

[joan]

Re: Recovering property from LPA receivers

Re: LPA Receivers

If anyone has been affected by LPA Receivers, you might be ineterested to know about the the website www.property-forum.co.uk which is campaigning with the support of landlords, MP's and other organisations to fight this injustice. I have joined and it is great to have the support of others in the same situation and to feel that we are doing something in an attempt to reverse the devastating effect this has had on us.