The Law of Property Act 1925 (LPA) details the rights and responsibilities of lenders and borrowers who use property as collateral or security for a loan. If terms of the loan are breached, the act sets out options for lenders to take to recover the loan and LPA receivers can be appointed to deal with the case.
If you’re a lender looking to appoint a trusted, experienced and pro-active receiver with a high success rate for debt recovery, then consider the five ways that Kempton Carr Croft’s LPA lead can help you below.
5 considerations for lenders looking for receiver services
- Experience. Rob Kerrigan is Kempton Carr Croft’s lead LPA receiver and has accumulated over twelve years’ experience in debt recovery. His clients include major high street lenders, short term lenders including bridging and development loan providers, and family trusts.
- Understanding. As a Chartered Surveyor with a background in valuing all asset classes for lenders including short term and bridging lenders, Rob has an excellent understanding of the factors effecting property value. This is essential when making the right commercial decisions to formulate the most appropriate and profitable disposal strategy.
- A considerate approach. The receivership process can involve difficult and sensitive negotiations. Rob communicate with and considers each stakeholders when proposing a debt recovery strategy. Everything possible is done to complete the process quickly with the best outcome possible for all involved. This approach minimise stress to the borrower and any tenants in situ whilst meeting the lenders requirement.
- Proven track record. Rob has such a broad case history that it’s fair to say he’s seen it all, done it all and has been lied to a thousand times! Ultimately this only improves his ability to cut through the fluff, get the job done and repay the lender what is owed.
- Clear lines of communication. Recognising each case is different and one solution does not fit all. Rob keeps clear lines of communications open with the lender so they can be updated as much or as little as they want for the duration of the process.
Want to know more about LPA receivership?
Rob Kerrigan is a Chartered Surveyor specialising in LPA receivership. View Rob’s profile for a summary of his case history in taking liability away from lenders across the UK and ensuring efficient sale and management strategies to recover debts owed.
View our ‘What does an LPA receiver do and why are they appointed?’ article and ‘LPA receivership FAQs’ for more information.
Need advice or services?
Rob Kerrigan is Kempton Carr Croft’s lead LPA receiver. View Kempton Carr Croft’s receivership service here or contact us to discuss your individual needs.
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