Knowledge is power. In keeping your home, ensuring you have the right information is imperative. You may have asked, what does fixed charge receiver mean? What is it’s purpose? What does fixed charger receiver mean in regards to your property? Most importantly, what does fixed charge receiver mean in regards to your home.
At Rescue My Properties, it is our aim to provide the information required to property owners facing the blight of a fixed charge receiver.
We do so by firth debunking recurrent myths & incorrect information in regards to fixed charge receivers.
Fixed Charge Receivership is also known under the name LPA Receivers. The term LPA Receivers directly relates to the ‘Law of Property Act 1925’, from which their powers are derived. Fixed charged receivers are court appointment. The appointment of Fixed Charged Receivers should follow a trial in a court of law. Naturally, home-owners would like to avoid any event of this by any means at their disposal.
The only absolute safeguard against the potential instruction of Fixed Charge Receivers over your property is to pay debts in a timely manner. Typically, following two missed mortgage payments, lenders are able to begin Fixed Charge Receiver proceedings. Unfortunately, missed mortgage payments can be for a plethora of reasons, particularly to the buy-to-let property owner.
What Does Fixed Receiver Mean For Your Property?
The question is, what does fixed receiver mean for your property? Frustratingly, Fixed Charge Receivership varies wildly case to case, as Rescue My Properties is well aware of. Typically, following one or more missed mortgage payment, the lender will move to take control of the property. This is done via the Fixed Charge Receiver. Though court appointed, the Fixed Charge Receivership can be anyone & the role requires no special training or qualifications. Once appointed, Fixed Charge Receivers are in control of any & all properties. This includes choosing to bring the property to sale, without the permission of the actual owner. Indeed, the Fixed Charge Receiver is by law allowed to sell properties for any price they see fitting, without consent of the owner. Essentially, Fixed Charge Receivership means an end to control of financial affairs in regards to property.
Fixed Charge Receivers are notoriously difficult to engage with as the law from which they are empowered is extremely vague & outdated. Hence, in order to have the best outcome of any situation involving Fixed Charge Receivers, expert guidance is of the up-most importance.
At Rescue My Properties, we are industry experts in the issue of Fixed Charge Receivers. A section of property law not widely understood even by legal professionals, Rescue My Properties have first hand experience of its implementation & application. We are dedicated to assisting property owners to stop Fixed Charge Receivers in order to maintain in control of properties. So confident are we of our services, we offer free one hour consultations to individuals with the threat of repossession.
What does fixed charge receiver mean for you? Don’t hesitate & act before the lender does. Speak to Rescue My Properties now. Call our dedicated Head Office on 020 7127 6536 or fill in a contact form to receive a call back from a member of our team.
What Does Fixed Charge Receiver Mean?
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