• Repossessed Property Public Notice

    By Guest on 22nd Aug 2016

    public notice was issued stating estate agent was acting on behalf of mortgagees in possession yet I am told this is wrong as LPA Receivers were appointed. Can this be checked through conveyancing records or any other way?

  • 4 Answers

    By Guest on 28/08/2016

    In practice this really doesn't make any difference. Why is this an issue for you? If you can answer I might be able to help further.

  • By Guest on 28/08/2016

    I had two repossessed properties sold undervalue e.g. one sold for £61,000 and just four months in January it resold for £98,000. FOS said case was dealt with by LPA Receivers and therefore outside their remit. However, correspondence from lender and two estate agent public notices of offer on two different property websites indicated that the lenders acted as mortgagees in possession.

    Any suggestions? There are mortgage shortfalls totaling £54,000 as a result.

  • By Guest on 04/09/2016

    I don't think the lender can escape liability just by appointing receivers rather than selling under its power of sale. There is generally no personal liability on the receiver. I think if you seriously believe the lender has acted negligently you need to speak to litigation solicitor

  • By Guest on 04/09/2016

    thank you. It's not really certain what has happened as even the first letter (in response to my FOS complaint) by the lender made no mention of an appointed LPA Receiver whatsoever i.e. the lender indicated that it controlled the marketing strategy/property sale itself. I agree, it has to be worth consulting a litigation solicitor which I shall do. Any thoughts you'd like to express on this?

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