How do we work?

Every case is individual however most follow a similar pattern. Initially, we will need to establish whether as a lender you have the power to appoint a receiver under your charge, or mortgage, or by law. Following this free assessment, we will then explain how you can appoint us, our charges and what we can do to assist and advise you.

If you choose to go ahead, we will obtain independent legal confirmation of the validity of our appointment and deal with the preparation of the necessary paperwork and notifications. The appropriate notice of appointment would then be served on the borrower. In law we then become the agent of the borrower and our work really begins. Our approach and methods are to try to help all parties in a difficult situation.

Our priority would be to make sure that the asset is secure and immediately take control of any income, such as rent, on your behalf. We will also establish an ongoing communication and remittance process with you. The extent and duration of our involvement will then depend upon the progress of the assignment.

Our charges vary depending on the complexity and involvement in the assignment, but comprise of a take-on fee (typically £250 - £1,000) plus a percentage of revenues from the asset.

If the arrears of the mortgage debt are recovered, and satisfactory arrangements for the future servicing of the debt can be made, we may agree with you to vacate office. Alternatively, if the revenue ceases for whatever reason, arrangements can be made for the realisation of the asset.