The owner of the property was seeking to refinance but hadn’t been able to do so within the requisite timescale.
We immediately commenced possession proceedings and agreed a consent order allowing the borrower three months to complete or, alternatively, vacant possession was to be delivered.
Once that period had elapsed and vacant possession had not been provided, we scheduled enforcement which prompted the borrower to hand over the keys to avoid the necessity of bailiffs attending.
As soon as we were in possession, we obtained appraisals, agreed a private treaty sale and instructed the selling agents.
The sale was subsequently concluded three months later with the lender recovering their entire loan.