Urgently need help re: Lpa receiver

[jaydeebee]

Hi

 

Firstly, really sorry as I have posted this elsewhere but I think I may have not posted in the right place. We are desperate for some help and could do with some advice urgently.

 

There are a few points.

We had a loan for approx. £150K with Lloyds. This was to buy a business and business premises.

The business failed and Lloyds have now appointed an LPA to sell the premises (they did give us 3 months to sell/rent ourselves but we had no interest at all).

 

We had a letter from the LPA on 9th August. It said nothing really, no introduction as to who they were or what their role was. All they wanted was the keys to the premises. We contacted them and told them to stop any action as we were seeking legal advice. We also wanted to make sure that our loan agreement actually stated that Lloyds could could appoint an LPA (we had intended getting a SAR for all the loan agreement documents).

 

We have since had a letter saying that they were changing the locks and going in to drain the boiler etc and do a survey.

This, if the letter is correct, will by now have been done. How can they do this ??

 

I have read other Caggers saying that you shouldn't communicate with LPA's but we just don't know what our rights and what we should or shouldn't do. It would seem now though it may be too late and that they have changed the locks - how can they do that!

 

Another thing, more importantly is this, the property is a downstairs retail outlet and an upstairs self contained residential flat.

Both premises have their own address. The loan security was a first charge on the business premises and a second charge on our home. On looking at the loan agreement documents we have noticed that the first charge is named as the flat address and the shop address isn't mentioned in the agreement at all. I have this morning been trying to get an appointment with a solicitor to see if this is something we could use to stop the LPA but I can't find anyone locally that deals with this sort of thing.

 

We really don't know what to do. A colleague has said we should contact the bank immediately and tell them to put a stop on the LPA's actions as there are errors in the loan agreement, but is that the right thing to do ?? We are sick of feeling so helpless against these people who seem to just rail road over people like us.

 

Any advice would really be appreciated.

[jaydeebee]

Can anyone help?

 

An LPA Receiver has now been appointed for our business premises. They've been in and changed the locks (only giving us 24 hours notice !). Does anyone know who is responsible for insuring the property now they've been appointed - is it us or them ? We do have the property insured ourselves but they have not really communicated with us at all until today when they have asked for the insurance schedule to be sent to them as they need to be put on as the beneficiaries.

 

If anyone can help I'd really appreciate it as I don't know whose responsible.

[diddled]

Usually LPA receivers have a block policy to include all properties under their control

[jaydeebee]

Usually LPA receivers have a block policy to include all properties under their control

 

Thanks for this. That's what I thought would be the case so I don't understand why they have asked for our insurance documents. I don't want to cancel my policy and then find the property isn't covered and I'm responsible. Not sure whether to send them my documents for just ignore their request.

[zph]

I am also having the same problems with Llyods and Halifax.

I have contacted the Finanacial Ombudsman who is investigating them and their practices.

 

The LPA receiver appointed by them was forced to resign by them .Now he is refusing to hand over the case file which should be mine as he was acting on my behalf.

 

Uncannily , the receivers solicitor also happens to be the Lloyds/Halifax solicitor.

 

I have introduced 2 buyers . Lloyds/ Halifax have ignored these and have marketed the property at 10-15% of market value.

 

To them it is a tax write off , to us it is our whole lives !!!

[jaydeebee]

That is really interesting. Since my post our situation hasn't changed. We now know that the locks have been changed and we no longer have any access. Until yesterday, we have had no other contact with the receiver at all - not a word so we really don't know what is happening and I really don't want to have a conversation with them. I emailed them because we currently have the property insured ourselves. I believe that the LPA will insure the property and charge us the premiums when sold. Naturally I don't want to pay twice. I told them the situation and they have asked for the insurance documents so they can add themselves as beneficiary. I don't think I am going to do that, to be honest I really don't know what to do. Have you had any insurance issues?

 

Has there been any further outcome from the FO? What did you say to them and had you complained to Lloyds first ?

 

The only good bit of news we have had is that the Council concerned have finally agreed to give us an exception due to repossession on the property and my God has that been a battle !

[zph]

Do you find that Lloyds / Halifax do not talk to you?

If so this seems to be a common problem.

A woman recently won £7000 compensation due to their lack of response.

 

Unfortunately, I can't be a great help, as I am also at my wits end.

 

I can only suggest that you also contact the financial ombudsman. Hopefully other people will also do this and the numbers will show a trend that it is a typical Lloyds /Halifax ploy.

 

Check with land registry as to the receiver registering an interest on the property.

 

I had obviously complained to Lloyds /H first, but to no avail.

 

The ombudsman hopefully will make a decision in the next few weeks.

But , they have had the file for 18 months .

 

You may be lucky , and find that they only have a first charge on the flat.

 

Sorry , I can't be of more help

[jaydeebee]

Hi there

Thanks for that. 18 months ! Crickey. Same thing regarding communication really. We haven't spoken to Lloyds since the LPA was appointed. They don't return calls or want to speak to us. We have no idea what sort of interest they are adding to the debt as they have withdrawn our access to our account. We complained about that and they said we would need to telephone to obtained up-to-date balances. We've tried that and been told they can't find our account on their system !!! It's an absolute joke.

 

I'll get something in writing to Lloyds and once they have responded I'll get something off to FO.

 

By the way, no luck on the charge issue. Checked with the solicitor who worked for us on the purchase of the premises and they say all the paperwork is in order unfortunately. I'd have loved to have got one over on Lloyds.

 

Sorry, being a bit dim probably. But why do you suggesting checking the Land Registry ?