Ltd co. mortgage, mortgage express going to appoint property management co. Help pls?

feisty1

[quote=InTheBrownStuff;17529889]Thanks again Sam. Does anyone know if this will be prevented by paying the arrears in full. Had any experience of this? Cheers[/quote]

NOBODY can tell u 100% what will happen in yr case. I have had clients with similar circumstances but have been dealt with differently. I know you want someone to tell you all will be ok, but it would be 100% wrong for anyone to do this. I sincerely hope it will be ok, but only B&W can give you the outcome.

feisty1

The fact yr going to be able to make some immediate payment will help yr case. But at the moment nobody can tell in which ways these lenders are going to act................

JPS29

saver_sam wrote: »

No court appearances or papers need to be signed and no Judgment is required for the LPA Receiver to be appointed.
quote]

With this in mind what would be the case if i refused to accept the appointment of the LPA. By this I mean the payments are brought up to date, the tenant continues to pay me and not the LPA.i know the tenant will back me up any way i need in this, and then they pass it back to the lender. Would theythen have to go to court, in which case I could at least argue my point with an unbiased judge??

Any past similar cases??

luckyfool

InTheBrownStuff wrote: »

saver_sam wrote: »

No court appearances or papers need to be signed and no Judgment is required for the LPA Receiver to be appointed.
quote]

With this in mind what would be the case if i refused to accept the appointment of the LPA. By this I mean the payments are brought up to date, the tenant continues to pay me and not the LPA.i know the tenant will back me up any way i need in this, and then they pass it back to the lender. Would theythen have to go to court, in which case I could at least argue my point with an unbiased judge??

Any past similar cases??

If tenant pays you and not the legally appointed managing agent then potentially he would be considered to not be paying the rent and the managing agent could start proceedings to evict him and put in place a tenant that would pay the rent.

To be honest I wouldnt start playing silly !!!!!!s like that, as its not fair on your tenant. It would be best to make a good faith offer to MEX, bring the mortgage up to date as soon as possible and either forestall the appointment of the managing agent, or have them removed again as soon as possible.

feisty1

InTheBrownStuff wrote: »

saver_sam wrote: »

No court appearances or papers need to be signed and no Judgment is required for the LPA Receiver to be appointed.
quote]

With this in mind what would be the case if i refused to accept the appointment of the LPA. By this I mean the payments are brought up to date, the tenant continues to pay me and not the LPA.i know the tenant will back me up any way i need in this, and then they pass it back to the lender. Would theythen have to go to court, in which case I could at least argue my point with an unbiased judge?? Any past similar cases??

Yr are not in any position to challenge, yr in breach of contract, remember mex technically own that property, u borrowed their money to buy it, it is not yet yours

JPS29

luckyfool wrote: »

InTheBrownStuff wrote: »

It would be best to make a good faith offer to MEX, bring the mortgage up to date as soon as possible and either forestall the appointment of the managing agent, or have them removed again as soon as possible.

The bringing it up to date was exactly what I was going to do. But can they then still appoint this LPA, and also I didnt know that it was reversable. How long are they normally appointed for then?

Thanks again

JPS29

Ok,

Just got off the phone to ME.

Have paid £800 today and promise to pay the remainder on the 28th as direct debit probably wouldn't be set up in time.

Have been charged £175 for the appointment of the LPA but conirmed no further action will be taken now that I have made the initial payment as long as I come good on the promise to pay.

Direct debit will be set up for FEB and a valuable lesson learned.

Thanks for the advice.

Cheers

saver_sam

InTheBrownStuff wrote: »

With this in mind what would be the case if i refused to accept the appointment of the LPA. By this I mean the payments are brought up to date, the tenant continues to pay me and not the LPA.i know the tenant will back me up any way i need in this, and then they pass it back to the lender. Would theythen have to go to court, in which case I could at least argue my point with an unbiased judge??

Any past similar cases??

Foot note from leaflet says:

"It's essential that all parties fully co-operate with the receiver (if one is appointed) as non co-operation may lead to legal action being taken and the property being repossessed"

Don't know of any similar cases where a case has been argued against the LPA being appointed, only the one stated before where a property was transferred.