Controlled, decisive action when lending moves off plan.

Defaults can arise during the term of a loan — through breach of conditions or non-payment of interest — or at maturity, when a borrower fails to repay. From our offices in Altrincham, Greater Manchester, our recoveries team helps lenders across England and Wales identify the most effective route to recovery, and act quickly to protect their position.

Redemptions

Our back-end redemption team handles redemption statements, discharge documents and undertakings to lawyers acting for borrowers or incoming funders — turning around even last-minute requests promptly and accurately, and remitting redemption funds to lender clients without delay.

Pre-action strategy

We issue demands for payment and letters before action, and advise on the most appropriate recovery route in light of the security, the borrower profile and the commercial objective.

Possession & enforcement

We act in issuing possession claims, obtaining warrants and writs of possession, and progressing enforcement steps where security has to be realised.

Fixed Charge Receivers & mortgagee sales

We advise on the appointment of Fixed Charge Receivers (also known as LPA Receivers, appointed under the Law of Property Act 1925), and act on the sale of properties by mortgagees in possession or Fixed Charge Receivers — whether by private treaty or auction. The conveyancing on those sales is handled in-house; see Conveyancing for Lenders & Receivers.

Complex recovery scenarios

Some recoveries involve multiple lenders, deeds of priority, debentures, administrators or third-party asset freezing orders. We advise on the additional steps required, including High Court applications where necessary. Where appropriate, we act in the appointment of administrators under debentures — whether for the debenture holder or for the administrators.

Personal guarantees

Where a personal guarantee has been provided and realised assets do not discharge the debt, we pursue shortfall claims against guarantors where appropriate.

Speak to the recoveries team

If a loan is approaching maturity, or a borrower has defaulted, talk to us early — the right strategy at the outset protects your position.

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