LPA receivers causing late payments and ruining my credit rating
My partner and I had a portfolio of 15 mortgages with Mortgage Express and due to my partner (only) going into an IVA on his personal loans (not the mortgages – these had never been in arrears at all), an LPA receiver was appointed on all of the properties. 
There was one line in the Terms & Conditions booklet which stated that an LPA receiver could be appointed if the mortgagor went into an IVA.
I offered to have all the mortgages transferred into my name but they would only agree to transfer one of them.
There are only a few properties left as most have been sold but when the LPA receiver pays the rental income to Mortgage Express it is after the due payment date and classed as arrears. A late payment charge is then added to the account and our credit files are affected.
I have done nothing wrong and yet my credit rating is so poor due to the actions of the LPA receiver that I cannot get any credit whatsoever.
Can I take action against the LPA receiver for paying the rents after the due payment date into the Mortgage Express account?
Thanks
Louise Star
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Member Since June 2015 - Comments: 14
9:53 AM, 30th June 2015, About 11 years ago
Reply to the comment left by “Peter Fisher – Boddington Law – (Fixed Fee Law)” at “30/06/2015 – 09:29“:
Hi Louise,
LPA Receivership is a very difficult area of law. I and many others have engaged top solicitors and barristers in an attempt to improve our situations with very little if no success. LPA Receivers are totally unregulated and operate under the radar of all authority and banks, in particular MX seem to have it all sewn up. All I’m saying is be very careful about parting with money before you are sure it’s going to help. I don’t know what level of expertise Boddingtons Law has in this area of law or what successes they have with fighting these type of cases but I would be interested to know. Good luck!
Comments: 98
10:55 AM, 30th June 2015, About 11 years ago
Reply to the comment left by “Joan Keeley” at “30/06/2015 – 09:53“:
Hi Joan – I have had several successes with MX and NRAM. There is a lot, I come from a Banking / Insurance back ground, of ‘law firms do not understand or comprehend how things are done. LPA reeiveres are NOT above the law but are difficult to deal with I would admit
Comments: 98
11:02 AM, 30th June 2015, About 11 years ago
Reply to the comment left by “Joan Keeley” at “30/06/2015 – 09:53“:
Hi Joan – I have had several successes with MX and NRAM. I am dealing with three other cases with another lender as well. There is a lot, I come from a Banking / Insurance back ground, of which ‘law firms do not understand and or comprehend as to how things are done. LPA receivers are NOT above the law but are difficult to deal with I would admit – sorry sneezed as I was typing last comment and missed typing errors
Member Since June 2015 - Comments: 14
11:18 AM, 30th June 2015, About 11 years ago
Reply to the comment left by “Peter Fisher – Boddington Law – (Fixed Fee Law)” at “30/06/2015 – 11:02“:
That’s good to hear Peter! I would like to run my case past you but as my LPA Receivers managed to convert alleged arrears (still disputed) of £18,500 into a debt of £328,000 with the loss of all my properties, my home and my lively hood, I don’t even have money to pay a ‘fixed fee’. I have squandered thousands and thousands of pounds on solicitors and barristers and it got me nowhere. Still fighting for myself and a change in the law but on my own now. Everyone who could make money out of me has done so and left me living on benefits and charity. I’m not looking for sympathy…..just telling you the facts and I know this has happened to thousands of others and I haven’t come across ANYONE who has had any success with fighting LPA Receivership but please excuse my cynicism….. I know many who have made a lot of money out of it! Kind regards, Joan
Comments: 98
10:04 AM, 15th July 2015, About 11 years ago
Reply to the comment left by “Louise Star” at “26/06/2015 – 16:45“:
Hi Louise – check out my profile to contact me
Member Since January 2011 - Comments: 12212 - Articles: 1407
10:22 AM, 15th July 2015, About 11 years ago
Reply to the comment left by “Peter Fisher – Fixed Fee Law” at “15/07/2015 – 10:04“:
Hi Peter
Thank you for becoming an official Property118 sponsor and it was good to catch up with you on the telephone earlier this week.
I think your legal services will be very valuable to our members and that you will get on very well with Mark Smith at Cotswold Barristers when you meet him.
.
Comments: 98
1:11 PM, 15th July 2015, About 11 years ago
Reply to the comment left by “Joan Keeley” at “30/06/2015 – 11:18“:
Hi Joan – check out my profile to contact me