We accept Fixed Charge/Law of Property Act Receiverships for the following:
Colin Fell is an associate of Property Fixed Charge Receivers (NARA) and was formerly head of JLL in the North of England.
What is a Fixed Charge Receivership?
Originally a creation of the Law of Property Act 1925 (s101), the powers afforded to a Law of Property Act (“LPA”) Receiver are limited by modern standards and an appointment is usually made under the lender’s fixed charge (mortgage) as well as under the powers afforded by 1925 Act.
In addition to a formal LPA process there are other exit routes available to secured lenders where we can advise and assist:
A Receiver acts as agent for the mortgagor (borrower) and whilst the principal obligations are to the mortgagee (lender), the Receiver has a duty of care to the borrower for proper conduct and to obtain best price at the point of sale.
We are fully aware of the FCA requirement surrounding the fair treatment of customers (TCF) and work with our secured lender clients in adhering to this requirement in each property recovery assignment.