Our dedicated and highly experienced property finance team is well versed in contentious matters and acts for banks, financial institutions, Law of Property Act and Fixed Charge Receivers, mortgage providers (including agricultural mortgage providers) and private lenders on all aspects of the enforcement of secured and unsecured finance.
Drawing on the expertise of our commercial property, company commercial, dispute resolution and residential possession teams, GA’s property finance team can offer the following services:
- Advice regarding options for enforcement of unsecured and secured finance (including loan agreements and legal charges)
- Drafting formal demands to borrowers and/or guarantors
- Pre-appointment advice to lenders and LPA / Fixed Charge Receivers
- Preparation of appointment documents for LPA / Fixed Charge Receivers
- Preparation of reports on the title
- Preparation of reports on the validity of receivers’ appointment
- Advising receivers regarding their powers, obligations and day-to-day property management functions (including drafting and serving Housing Act 1988 Notices, obtaining gas no access injunctions, and advising upon recovery of rent arrears (commercial and residential) and other breaches of tenancy)
- Drafting and issuing CPR Part 55 possession claims on behalf of lenders and/or receivers (including mortgagee in possession claims, possession proceedings against named occupants/tenants or trespassers, and claims for possession based on forfeiture for non-payment of rent); and
- Advice regarding debt recovery and the enforcement of money judgments or other monetary awards.
Recent experience
- Acting for a major high street bank, as well as a leading agricultural mortgage lender – advising them regarding and taking steps to enforce their security. Includes advising the lender on exercising their power of sale or, where necessary, commencing mortgagee in possession proceedings (including searches at HM Land Registry, confirming compliance with the Pre-Action Protocol for Mortgage Possession Claims (where applicable), drafting claims for issue, serving the required notices in accordance with CPR 55.10, instructing agents or counsel to attend possession hearings, and requesting warrants of possession where required).
- Advising various Property Consultants and Licensed Insolvency Practitioners (appointed as Fixed Charge or Law of Property Act Receivers by major banks, mortgage providers and private lenders) regarding the validity of their appointment (including conducting all relevant searches of the Land Registry and Companies House, and the relevant insolvency searches), and advising the receivers about their duties, obligations and day to day property management functions (including serving notices and commencing proceedings for possession where necessary).
- Preparing formal demands, appointment documents, reports on title, validity reports and possession claims pursuant to CPR 55 for various lenders and mortgage providers (including a major Swedish bank and a Dutch group of companies that purchased portfolios of individual mortgage loans from various financial institutions).
- Assisting with the management of a portfolio of over 500 residential buy-to-let properties within a Law of Property Act Receivership (including phased letters to occupiers of the properties, advising on the receivers’ appointment, serving appropriate notices, and commencing possession proceedings against unknown occupiers (trespassers) and named tenants under section 8 of the Housing Act 1988).
- Advising a lender regarding the enforceability of its (often director guarantee backed) asset finance agreements – including drafting and issuing Part 7 money claims, serving statutory demands on companies and individuals, issuing bankruptcy or winding up proceedings, and enforcing money judgments (including, for example, applying for charging orders over debtor’s property, proceedings for orders for sale, Attachment to Earnings and Third Party Debt Order applications, and instructing High Court Enforcement Agents).
- Advising a lender regarding the enforcement of a Settlement Agreement and associated voluntary Legal Charge where the Defendant raised a defence based on an argument that the Settlement Agreement was unenforceable because of the ruling in CFL Finance Ltd v Gertner. This led to the lender obtaining its favourable decision from the FCA confirming the validity of the Settlement Agreement on the basis that it had been secured on the Defendant’s property at HM Land Registry.
- Debt recovery action for an international pub company against various individuals, pursuant to the terms of directors guarantees.
- Advising a national rail company regarding its property-related debt recovery matters, including commencing claims for arrears of rent and service charges, and enforcement of judgments.
If you need help with a property finance dispute, then contact the specialist team by calling 01752 203500. Alternatively, please email enquiries@GAsolicitors.com or use our contact form.
