What’s more, we provide total transparency over our costs from the start and give regular updates until a case is resolved.
The Law of Property Act (LPA) Receivership process exists to ensure that lenders can recover their debt on a defaulted property loan by appointing a receiver as soon as it can be shown indisputably that a borrower isn’t making repayments. The process effectively gives control of a property to the receiver.
CG&Co’s Receivership team knows precisely what needs to happen to ensure that a borrower has received all necessary notifications while simultaneously securing and assessing buildings. We then take every possible step to market and sell that property for its maximum value to get the outstanding debt repaid.
If a property’s rented – either commercially or residentially – CG&Co take over the collection of rent on a lender’s behalf while simultaneously instructing agents to market and sell the premises. Where the value of a property is linked to a trade – such as licensed premises, hotels, care homes and petrol stations – we’ve excellent relationships with management companies who successfully trade these on our behalf until a buyer is found. Similarly, CG&Co has substantial experience of working with contractors to complete part-built developments to ensure that their value is maximised prior to the sale.
On those occasions when there’s sufficient equity in the property to repay the lender in full, any remaining equity is always returned to the borrower.
CG&Co witnessed a dramatic growth in the volume and value of property-related cases during 2019. The firm, specialising in property receivership, experienced a 40% rise in the number of appointments. They also saw an increase in the value of the properties under its control to £300m. A Partner’s Property Insight Over the past 12 months,
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CG&Co is a trading name of
CG Recovery Limited, a company
registered in England and Wales
under company number 08249691
1 Booth Street,
Tel: 0161 358 0210
Fax: 0161 358 0211