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Request a meeting...Updated: 21st December 2021
A portfolio of 145 residential properties based in Reading with a total bank lend of £35 million. This was a complex case and we were appointed due to a technical breach rather than an arrears breach.
Work Undertaken
The properties were largely tenanted residential properties and our team took control of the rental income prior to considering the optimum exit strategy. The bank debt was serviced from the rental income which was originally circa £130,000 per month. The Bank was expecting a loss of circa £17 million at the date of appointment.
Outcome
We put plans into place for phased disposal and managed the strategy from start to finish. This process was undertaken at the optimum time to take advantage of improving market conditions and, ultimately, the Bank’s loss was eventually estimated to be circa £3 million – representing a huge positive swing for the Bank. This liability was also potentially recoverable via litigation against third party professional advisors.
Call our Confidential Advice Line. Calls to this number are free of charge.
Call us now...We invite you to come and discuss your enquiry with us at your convenience.
Request a meeting...Call our Confidential Advice Line. Calls to this number are free of charge.
Call us now...We invite you to come and discuss your enquiry with us at your convenience.
Request a meeting...Call our Confidential Advice Line. Calls to this number are free of charge.
Call us now...We invite you to come and discuss your enquiry with us at your convenience.
Request a meeting...