Buy To Let Pitfalls
It is often the case in todays market that mortgages can be taken over by the lender...

Avoid the Crunch
Now that the recession is in its latest stages, we need to be vigilent to the point...

Protect your Interests
Without the correct protection in place, your proerties could easily be at risk from lenders...

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Landlord and Letting Show 2012
Not an event to be missed this year. A star studded line up of speakers with some influential insights into the present market condition.

For more information, please visit the forum posts or go directly to the website...


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Fight for Fairness

We are a group of like-minded landlords who have joined together to fight for fairness. We believe that LPA receivers have acted in an unjust and negligent way; jeopardising, and in some cases destroying, the hard earned livelihood of honest, committed landlords. If this sounds like you, help us to help you and together we can fight for fairness. We are calling for all landlords and tenants who have experiences with LPA receivers to get in touch with us. Share your story in the forum or get in contact.

The rule of the LPA Receiver must come to an end

In the blizzard of recession, collapse of banks, the tenancy deposit scheme and payments of housing benefits going directly to tenants, landlords have become victim to the unmerciful actions of the Law of Property Act 1925 (LPA) receivers. Appointed by mortgage lenders when borrowers default on loan repayments, LPA receivers effectively step into the role of the landlord; able to collect all rental income, remove tenants, place tenants and sell the property as and when- taking all the property's equity and cash flow with them.

Why do lenders appoint LPA receivers?

By appointing an external agency, the lender is able to have a degree of legal separation from the property so that the receiver takes the risk of liability on the lender's behalf. Lenders previously would have had to go to court to apply to the court for possession, which could take months. By appointing LPA receivers, rent can be collected immediately and the property sold at will. The neutrality of the relationship between lenders and LPA receivers has been questioned however- for example the head of credit and fraud at Bradford and Bingley, Mr Ray Hugill is now the director of Templeton LPA receivers.

How does it happen?

LPA receivers can be instructed on residential and buy-to lets after three months of arrears. Once instructed, the locks will be changed and the borrower will have incurred a £1000 charge per property, which will be added to their loan automatically. Circumstances of the borrower will not be taken into account, whether they are able to pay the amount owing or not. The LPA receiver will then become the borrower's point of contact but all communication with the LPA receivers and any costs incurred by the property will also be automatically added to the loan.

The LPA receiver has the right to sell the property as and when they see fit; they are under no obligation to 'ride the market,' their only priority being to recoup the debt. Reports also reveal that LPA receivers have been taking control of properties after arrears have been settled with very little the landlord can do about it.

Together we can unite for fairness and change.