Challenging an LPA receiver

by Readers Question

8:33 AM, 11th July 2016
About 4 years ago

Challenging an LPA receiver

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Challenging an LPA receiver

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. Challenge

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.

Regards

Adrian



Comments

Mark Alexander

19:17 PM, 11th July 2016
About 4 years ago

I am aware of three landlords who have overturned a UKAR appointed LPA receivership.
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