“We work with your managers and agents to speed up the process of returning your capital. Teamwork is the key.” Mike Caton, Senior Partner
The Council of Mortgage Lenders reported a 7 year high in the number of properties taken into possession in 2007, at a total of just over 27,000 and numbers for 2008 are predicted to increase further. Lenders are therefore increasingly relying on their lawyers to recover their loan capital by realising their security.
Lenders need to progress to completion quickly and seamlessly, particularly when there is a possibility of shortfall. Our sales department works alongside our recoveries teams, dealing exclusively with repossession sales. Our conveyancers are specialists in property sales for mortgagees in possession.
We offer a unique service, unmatched by other firms. We
- Shorten turnaround times at every opportunity, including supply of a ‘seller’s pack’ for the buyer’s solicitor within 24 hours.
- Proactively identify problems early on, to resolve any issues regarding planning, title or regulations before the buyer’s side has raised them.
- Provide detailed management information showing trends and overall statistics as well as the status of each individual sale
- Provide online case tracking for ease of review
- Liaise closely with our clients’ possessions department, their asset managers and agents throughout the sale process
- Often act under a power of attorney to sign deeds and documents on behalf of our clients, again to avoid delay.
- Identify and act on potential losses or professional negligence issues early on, before the property is sold, to avoid delay.