The Law of Property Act or Fixed Charge Receivership, most commonly known as an LPA Receivership, is a tool available to a lender to help them recover their debt on a defaulted property loan. Once implemented, the creditor assumes ownership of the debtor’s property and appoints an LPA Receiver to take charge of the property. The debt owed is recovered typically by either selling the property or collecting rental income from it.
Undertaken by our Valuation Services team, we act as Fixed Charge Property Receivers for banks, building societies, financial institutions and other lenders. One of the largest receivership teams in the country; we have longstanding experience of business support and recovery situations having being appointed Fixed Charge Receiver’s since 1970. In fact, since the latest recession, we have been appointed in over 10,000 LPA Receivership cases.
We have created a ‘National Centre of Excellence’ in the provision of Banking and Corporate Insolvency Advice to the UK Banking Recoveries Sector. Its fundamental role is to act as Law of Property Act (Fixed Charge) Receivers and to provide support to insolvency practitioners.