How to Stop the LPA Receiver

If you’ve defaulted on a secured loan or are unable to meet the terms of your loan agreement, you may be facing receivership and the loss of your property. Fortunately, receivership can be stopped, provided you take the right course of action. To learn more, talk to the HomeKeep Solutions team now and protect your assets.

“I can’t thank you enough for helping me keep my home! I’d had no luck trying to reason with my mortgage lenders, but the HomeKeep Solutions team acted quickly and negotiated a long-term payment plan that’s affordable and realistic.” – John O

Take Action Now

Complete your details below to start the process

DD slash MM slash YYYY
This field is for validation purposes and should be left unchanged.

Responding to LPA Receivership

A lender can appoint an LPA Receiver relatively quickly. If you miss just two loan repayments, an LPA Receiver may be appointed to recoup the debt. Fortunately, there are ways to prevent or stop receivership, such as:

How to Deal with a Court Hearing

There are three main ways you can respond to a repossession court hearing:

  • 1
    Renegotiating the Loan: If you’re unable to keep up with the original loan terms, negotiating with the lender may prevent them from appointing an LPA Receiver. You may want to extend the loan term and reduce your monthly repayments, so you don’t end up in arrears, for example.
  • 2
    Challenge the Decision: If an LPA Receiver has been appointed without the appropriate protocols being followed, it may be possible to challenge the decision. As a result, the receivership could be set aside.
  • 3
    Repay the Loan: Repaying the loan is the most obvious way to stop LPA receivers but it can be difficult to raise sufficient funds to achieve this. However, some property owners find that bridging loans or selling the property are viable options in these circumstances.
Tick

The Legal Rights of LPA Receivers

Under the Law of Property Act 1925 (LPA), a Receiver can be appointed if a borrower fails to meet the terms of a secured loan agreement or if the loan agreement expires and the debt remains unpaid. An LPA Receiver has a wide range of powers, but their role includes managing the property, including the potential sale of the asset.

Once receivership is underway, there is a real risk of losing your property, which is why it’s important to seek advice quickly. As every case is different, accessing bespoke advice from experienced professionals will give you the best chance of resolving the situation and retaining your assets.

It’s important to remember that LPA Receivers act in the interests of the lender. In contrast, HomeKeep Solutions is on your side and will do everything possible to help you retain ownership of your property. To discuss your case in more detail, get in touch with our experienced team today.

FAQ

An LPA Receiver takes over the management of the property, which includes collecting rent from sitting tenants. However, even if your property has current tenants, this won’t prevent the sale of the asset. In some instances, an LPA Receiver will sell a property with sitting tenants, which can negatively impact its sale value, thus reducing the funds available to repay the outstanding loan.

When a loan is called in, it effectively means that the lender can demand full repayment immediately. Of course, few borrowers can repay their loans in full, especially if little notice is given. If your lender is planning to call in your loan, it’s not too late to begin negotiating with a view to retaining ownership of the property and stopping a sale from taking place.

Every case is unique, which is why it’s essential to seek custom advice if you’re facing insolvency. If the lender hasn’t followed the relevant processes, it may be possible to have the receivership stopped. However, even if an LPA Receiver has been appointed, it’s not too late to protect your property and prevent it from being sold.

Our Reviews

Google
“I was near breaking point by the time I called HomeKeep Solutions and I’m eternally grateful for the compassionate advice they gave me. Within days, their team had stopped my eviction and given me respite in the most difficult of circumstances. Now, I can look forward to a bright future – in my own home!”
Shirley L
“I’m so grateful to the HomeKeep Solutions team for helping me keep my home and supporting me when I had nowhere else to turn. I was convinced my home would be repossessed but, thanks to you, I’m back on track and secure in my own home.”
Taylor P
“I was days away from eviction when I called HomeKeep Solutions and was convinced there was no hope but, to my surprise, you stopped the eviction and made sure I’d be able to stay in my home. Your friendly, professional advice made a world of difference during such a stressful period in my life, and I’ll never forget the help you provided.”
Lloyd S
“I can’t thank you enough for helping me keep my home! I’d had no luck trying to reason with my mortgage lenders, but the HomeKeep Solutions team acted quickly and negotiated a long-term payment plan that’s affordable and realistic. As a result, I’m no longer facing repossession, an enormous amount of stress has been lifted and I can begin enjoying life again.”
John O
“I didn’t know where to turn for help when a repossession order was granted but your team was instrumental in stopping the repossession and helping me to keep my property. I don’t know where I would be without you and I’m eternally grateful for your expert advice and knowledgeable support.”
Neil S
“I thought I’d exhausted all my options and was doomed to failure but HomeKeep Solutions quickly resolved the situation and negotiated with my lender. Not only can I stay in my home, but I can face the future knowing that my property is no longer under threat of being repossessed. Thank you.”
Aidan B

Take Action Now

Enter your details below to start the process

Take Action Now

Complete your details below to start the process

  • No upfront fees

  • Legal experts
  • Available 24/7