Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
UKAR (as Mortgage Express) have appointed an LPA receiver on a flat I own. They said I didn’t make any payments to the account for 3 months. I have shown them redacted bank statements showing payments made from my account to their collections account. Apparently this isn’t good enough. they are now asking that I sign new terms and conditions, reduce my overall portfolio term to 7 years from 15 years, make overpayments of £1500 per month and pay everything by direct debit & pay off the LPA receivers fees – some £3000.
Ironically they refused to have DD’s set up on my Ltd company account which manages my portfolio so this is why I pay by standing order.
I have found them to be incredibly difficult to deal with and now feell like I have to get my MP involved as well as solicitors. Before I go wasting money on a solicitor who doesn’t know what they are doing – has anyone else had dealings with Mortgage Expresses portfolio team and or dealt with an LPA receiver before. I cannot believe this has happened but now have to deal with the aftermath of their incompetence.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More