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Law of property act 1925 recievers: I have decided to write this because so little help is available when it comes to taking on lpa receivers. As nearly all the information is biased and written by companies posing as lpa receivers. Here's my story in very brief terms i hope it can help others, I have been unfortunate to have got involved with (Blemain) Lancashire Mortgage Corporation (that story will come out another time) after a couple of years of threats and intimidation to string me along daring not to complain, i decided i had had enough and they carried out their threat and appointed Waterfold Asset Management as receivers.
I received a letter on 14th sept. 2012 informing me S kay of waterfold had been instructed to act as lpa receiver and would manage my property or arrange for its sale. enclosed were two documents by cantor law solicitors. claiming to validate their appointment, I looked closely at the paper work for mistakes and sure enough i found one it read the legal charge dated 25 nov. 2012( this was a date in the future) i checked both companies out and found they were both conected with Blemain same directors and had operated from the same premises. I questioned this and the validity of their appointment whilst i had a complaints in with LMC and the FOS. I was given a load of lies claiming they were all independant of each other and the date was a typing error. Steven kay claimed he had personally been appointed not the company he worked for.
They had sent letters to the tenant of my property which had not been answered so they sent me an email on a friday at close of business puting me on notice that they were taking vacant possession. and will market it for sale. I thought this was the end! but a phone call to my legal team and i put Cantor law And Steven kay of waterfold on notice that it was my belief that they had not carried out fact finding and had not considered the suitabilty of the loan and simply rubber stamped the appointment. I explained LMC had fallen foul of their duty of care as a responsible lender and as a consequence the lpa receiver appointment was inappropriate, i also explained the fact S kay has declared personal responsability i would seek financial redress for his inappropriate appointment. I put him on notice that the property was subject to a legal tenancy and any attempt to seek possession was illegal i asked him to retract his action in the interest of avoiding personal liability. I named the barristor i had previously spoken to and finished by saying i look forward to hearing from you with conformation that you intend to withdraw from your appointment as LPA receiver. They backed down and no action was taken. In further correspondence i pointed out that they were regulated by the law of property act itself and must work within that law, (as it became apparent lpa receivers beleive they can frighten people into beleiving they have more powers than they really do have).
As a final go at trying to gain control S kay / waterfold tried to set up a meeting with the tenant however i had been fairly open and honest with the tenant and explained some of the problems i had had with the lender and he wrote back declining the offer pointing out he was aware of a serious dispute with the lender and questions raised about waterfolds appointment further explaining his reply was not an acceptance of his position.
I received a letter from waterfold asset management today 22nd nov 2012.
Dear sir and madam please be advised that i have resigned as LPA Receiver signed S.E. Kay RESULT !
Please note i have tried to keep this as breif as i can so letters are not word for word i hope this will help others. please add your dealings with lpa receivers as i beleive this course of action taken by lenders is being misused and the law of property act 1925 out of date
ode "IF YOU ARE GOING THROUG HELL KEEP ON GOING"
I received a letter on 14th sept. 2012 informing me S kay of waterfold had been instructed to act as lpa receiver and would manage my property or arrange for its sale. enclosed were two documents by cantor law solicitors. claiming to validate their appointment, I looked closely at the paper work for mistakes and sure enough i found one it read the legal charge dated 25 nov. 2012( this was a date in the future) i checked both companies out and found they were both conected with Blemain same directors and had operated from the same premises. I questioned this and the validity of their appointment whilst i had a complaints in with LMC and the FOS. I was given a load of lies claiming they were all independant of each other and the date was a typing error. Steven kay claimed he had personally been appointed not the company he worked for.
They had sent letters to the tenant of my property which had not been answered so they sent me an email on a friday at close of business puting me on notice that they were taking vacant possession. and will market it for sale. I thought this was the end! but a phone call to my legal team and i put Cantor law And Steven kay of waterfold on notice that it was my belief that they had not carried out fact finding and had not considered the suitabilty of the loan and simply rubber stamped the appointment. I explained LMC had fallen foul of their duty of care as a responsible lender and as a consequence the lpa receiver appointment was inappropriate, i also explained the fact S kay has declared personal responsability i would seek financial redress for his inappropriate appointment. I put him on notice that the property was subject to a legal tenancy and any attempt to seek possession was illegal i asked him to retract his action in the interest of avoiding personal liability. I named the barristor i had previously spoken to and finished by saying i look forward to hearing from you with conformation that you intend to withdraw from your appointment as LPA receiver. They backed down and no action was taken. In further correspondence i pointed out that they were regulated by the law of property act itself and must work within that law, (as it became apparent lpa receivers beleive they can frighten people into beleiving they have more powers than they really do have).
As a final go at trying to gain control S kay / waterfold tried to set up a meeting with the tenant however i had been fairly open and honest with the tenant and explained some of the problems i had had with the lender and he wrote back declining the offer pointing out he was aware of a serious dispute with the lender and questions raised about waterfolds appointment further explaining his reply was not an acceptance of his position.
I received a letter from waterfold asset management today 22nd nov 2012.
Dear sir and madam please be advised that i have resigned as LPA Receiver signed S.E. Kay RESULT !
Please note i have tried to keep this as breif as i can so letters are not word for word i hope this will help others. please add your dealings with lpa receivers as i beleive this course of action taken by lenders is being misused and the law of property act 1925 out of date
ode "IF YOU ARE GOING THROUG HELL KEEP ON GOING"
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