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This is my first post on here so please bear with me. I could really do with some urgent advice concerning a Lloyds loan, I will try and keep it brief.
There are a few points.
We had a loan for approx. £150K with Lloyds
. This was to buy a business and business premises.
The business failed and Lloyds have now appointed an LPA to sell the premises (they gave us 3 months to sell/rent ourselves but we had no interest at all).
We had a letter from the LPA that Lloyds have appointed on 9th August. I don't know what I expected but this letter didn't include any information about what their procedures are or anything like that. All they wanted was the keys to the premises and asked a serious of questions that were not relevant to the property.
We emailed back saying we wanted to delay proceedings as we did not know at this stage whether our loan agreement said that Lloyds could appoint an LPA (we had intended getting a SAR for all the loan agreement documents). We have now had a letter from them which was received on 15th August saying that, as they hadn't heard from us (not true) they intended changing the locks and draining the boiler etc. on 16th August !! We presume this has been done, we live a long way from the property so we don't know. We really don't know what to do. We don't know what our rights are.
The other thing is, which is more important is that the property is a downstairs retail outlet and an upstairs self contained residential flat. Both premises have their own address. The loan security was a first charge on the business premises and a second charge on our home. On looking at the loan agreement documents we have noticed that the first charge is named as the flat address and the shop address isn't mentioned at all. Also the postcode of our home address is incorrect. We don't know if there is any significance in this but surely they can't just rail road over us if there are errors in the loan agreement. If this is the case, what do we do about it? I have been trying to find a local solicitor that could help but I have been unable to find one that deals with this sort of thing.
Any advice would really be appreciated.
We had a loan for approx. £150K with Lloyds
. This was to buy a business and business premises. The business failed and Lloyds have now appointed an LPA to sell the premises (they gave us 3 months to sell/rent ourselves but we had no interest
at all). We had a letter from the LPA that Lloyds have appointed on 9th August. I don't know what I expected but this letter didn't include any information about what their procedures are or anything like that. All they wanted was the keys to the premises and asked a serious of questions that were not relevant to the property.
We emailed back saying we wanted to delay proceedings as we did not know at this stage whether our loan agreement said that Lloyds could appoint an LPA (we had intended getting a SAR
for all the loan agreement documents). We have now had a letter from them which was received on 15th August saying that, as they hadn't heard from us (not true) they intended changing the locks and draining the boiler etc. on 16th August !! We presume this has been done, we live a long way from the property so we don't know. We really don't know what to do. We don't know what our rights are.The other thing is, which is more important is that the property is a downstairs retail outlet and an upstairs self contained residential flat. Both premises have their own address. The loan security was a first charge on the business premises and a second charge on our home. On looking at the loan agreement documents we have noticed that the first charge is named as the flat address and the shop address isn't mentioned at all. Also the postcode of our home address is incorrect. We don't know if there is any significance in this but surely they can't just rail road over us if there are errors in the loan agreement. If this is the case, what do we do about it? I have been trying to find a local solicitor that could help but I have been unable to find one that deals with this sort of thing.
Any advice would really be appreciated.
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