Appointment process

Our business model is based on the principle of being pro-active rather than re-active both with the borrower and the property. We are prepared to be as flexible as is necessary both in the way we work and the hours we work in order for the client to resolve any issues they may have with each particular property and situation as we see any appointment very much as a partnering role not just a job of work.

When considering the way forward there are matters that the client may wish to consider that are pertinent. We would strongly recommend that a report on title is prepared by the lawyers who will act throughout the property receivership in order to establish any equitable charges etc there may be and to try and ascertain the level of those charges. We also need to establish that there are no leases or matters such as restrictive covenants etc that could adversely affect either the saleability or the value of the property. This report will also confirm that the appointment is valid. Once you have this report we can then proceed and the process we go through once appointed is as follows:

On the day of our appointment we will write to the tenants at the property and
make appointments to inspect. We will arrange a date usually within a week of

appointment to visit the property from which we will ascertain the tenancy position.
Where appropriate we will also contact the borrowers and arrange to meet with them to go through any pertinent details that affect the management of the property. Finally we will carry out a full due diligence exercise and then prepare for you a detailed report which will include the following information:

  • Location including location plans and site plans as appropriate
  • Description to include a comprehensive range of photographs
  • Comment on the general condition of the property
  • Planning details of current consents and any potential alternative uses. Advice on what planning work may be required in respect of any potential enforcement action etc
  • Tenure/title and a review of any relevant charges or restrictions.
  • Review on any leases or tenancy agreements and their implications.
  • Our opinion of market value. We will also secure an agent’s written appraisal as well.
  • General recommendations on how we feel matters should be progressed and the appropriate strategy going forward both short and long term.
  • If appropriate, marketing recommendations together with costs.
  • Confirmation on fees going forward together with any costs in respect of works, any professional fees for such matters as technical reports and marketing costs or planning costs.
  • Details of any landlord and tenant issues that will need addressing also health and safety issues.
  • Advice on security both against re-entry where appropriate by either the borrower or squatters and for insurance purposes.

Once the report has been prepared we will arrange to discuss this with you in detail and confirm what actions are required in order to deal with any pertinent tenancy and property issues. We will then finalise our strategy with you going forward as per the recommendations within our report.