Are you a Landlord in the Oxfordshire area or elsewhere and have had dealings with LPA Receivers being appointed and feel it was not correct. An expose is being put together by a local radio station.
Do any and or all of the following sound familiar about your experiences once the Receivers have been appointed:-
- So called account manager wants to meet up and is ‘nice’ but then you find that the real reason was to find fault and grab your properties
- Never had a proper statement of your Mortgage Account even when requested
- Inform your tenants that ‘you[the landlord]’ have instructed the LPA Receivers when you have not
- Agent arrives at the property and the Tenant is being told a GAS Check or other checks are needed- when it is not.
- The agent attempts to obtain details of the tenants payments or what job they do ask about income and expenditure
- Agents arrive and say – we are changing the locks and the tenant(s) has to leave there and then –attempt at illegal eviction
- You go to Court and at the Court door given the Mortgage Account statements you have been requesting for months – only to find extortionate fees and charges added
- Your tenant bombarded with letters asking for the rent to Receivers or their agent and or saying the tenants have no lawful AST and are trespassing
- Offer a financial ‘incentive’ for the tenants to leave
- Your tenant pays you the rent but then gets a letter or other form of communication saying they are in arears and no rent has been paid and court action is threatened
- Use Possession proceeding to get the tenants out as a trespassers and evict in days – board up the property and sell for a figure that is not reasonable
- Lender issues a Formal Demand for repayment- yet you have done nothing. They allege you have and then instruct LPA Receivers who then take possession and sell at well under the real value leaving a massive shortfall for you to pay.
- Fees by the LPA Receivers are unreasonable and some of the charges for maintenance and repairs well out of order – £500.00 to change a kitchen cabinet door, £600.00 to change a wall heater.
- Receivers Instruct a local Letting Agent to collect the rent and manage the property – the fees charged are way out of line with what the Letting Agents in the area would normally charge and then the LPA Receiver add their charges leaving a vastly reduced sum or little to pay the mortgage which you had and or would be paying if you had full control.
The above is only a section of what has been reported as going on when lenders instruct LPA Receivers, an unregulated industry, and one that needs being exposed and STOPPED.
We need to hear you stories – especially in the Oxfordshire area