Fixed charge receivership is a cost-effective way of securing recovery in certain distressed situations. It is a simpler vehicle to run than administration with less formal requirements for reporting, and depending upon the nature of the charge or status of the borrower, allows the lender to secure speedy control of the asset.
NB have two qualified fixed charge receivers: David King and Kevin Mersh. Both are Fellows of the Royal Institution of Chartered surveyors, RICS Registered Property Receivers and Fellows of NARA the Association of Property and Fixed Charge Receivers.
We are very aware that in many instances banks do not wish to appoint an LPA Receiver but want advice and input to resolve specific issues. With UK coverage and the ability to provide services across all sectors of the property market we can assist from providing an initial appraisal and advice on alternative uses, and values through to management, building surveying and sale.