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Tomorrow the Receivers want the keys to my building - no Possession order?
hello.
my husband has become mentally ill. he and i are directors of a business. he took out two loans (one paid off the other) against a building he owns in which we run a business i sent the loan / mortgage company a copy of his mental health Section notice and they called in the loan even before we had the chance to default on payments. we have not been to Court and they do not have a Possession Order. They are being very aggressive and have told me they have a Cash buyer for the building for £2million. the property has been valued at £2.5 million minimum as it has been renovated. Most building on the street have been developed. They were Commerical Premises downstairs and a 5 bed flat over 3 floors upstairs with a roof terrace. The other buildings in the street have been developed into 3 Commercial premises and 3 flats. can the "receivers" force us to sell without a Possession Order?
there was a lease on the commercial premises eg my husband wrote himself a lease. they asked me to sign a Deed of Surrender for the shop which i did i have written to them explaining that David is ill and in accordance with the mental health act he gets to have a power of attorney (which takes 10 weeks to file) or i go to the Court of Protection and get LPA.... this advice was given to me by local lady.
The receivers have changed some locks but not all...
the whole building is in in kensington london i have spoken to the other estate agents who said a min of £2.5 million is what it is worth. the receivers are trying to make me give them keys tomorrow for an offer (that i have not seen) of £2m
the original offer letter for the loan says that Mint Bridging is not regulated and is a private company which is confusing as they own another company called Mint Bridging Limited which is FCA registered however the mortgage charge on the Land Registry says that MB Syndicate which is FCA regulated.
Estate Agent has told us that to maximise the sale price we should apply to the Council for planning permission to develop the premises into: 3 flat and 2-3 Commerical premises as that is what 8 other building have done in the street. they say it will maximise the sale price to £3m - £3.5m.
also the estate agent they went with have advertised the building as being in the hands of the receivers and only at £2.1 million when other estate agents say they can get £2.5 million fo the whole building. They also only advertised in December when most investors are away..
we have been told to clear out everything and were told to close our business that turned over £40k a month... and the 5 bed flat could have been let for £4k or more a month... the minute i sent them the info about my husband being Sectioned they called in the loan even though we did not default on money.
they have been trying to get him to sign documents but he is mentally ill and it takes 10 weeks to get LPA done... yet they push ahead with the sale. i have told them that any documents my husband signed after sept 2018 when he was sectioned are void as he does not have mental capacity.
i have contracts, offer letters etc but they have a lot of detail and i can't delete it as they are PDFs. if i upload it you will know how were are... can email it to and email address and you can see the conversations.
the lawyer that advised my husband on the loan said he was erratic and had to have info explained many times.. we feel that the lawyer has not followed the SRA code of conduct and the Attendance note is not even signed by my husband...
we have a witness statement from a member of the local council employee who is a retired police officer and she says it is plain for all to see that my husband is and was suffering from mental illness and the loan should have never been made.
I also feel that the loan company has not acted in good faith and has failed in its duty of care to my husband as they gave him a high interest loan on a property which is worth a lot of money... he is ill and as his wife and a Director of the business neither my lawyers not the loan company contacted me... they have continued to email and harass my ill husband.
I wrote them an email regarding the Court of Protection and LPA, they are now more polite but want key tomorrow - do i give them the keys or not?
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