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Services

Asset Management & LPA Receivership

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At Bridgeshield not only do we understand that no two cases are the same, but also that as a lender you may have a wide variety of assets in your portfolio.

LPA Receivership

If the property is occupied by anyone other than the borrower then it will be necessary to proceed as LPA Receiver, establishing occupancy status, collecting rent and dealing with tenants. BridgeShield have a long-standing partnership with FRP Advisory to provide a comprehensive yet flexible solution for our clients.

Assisted Sale

There can be situations where the most effective strategy is to work in conjunction with a borrower in order to expedite an on-going sale, provided cooperation is forthcoming, in order to reduce delays and costs.

Administration

If the borrower is a Limited Company and a floating charge is in place, a lender is entitled to appoint an Administrator, who can take control of all assets and decide how best to realise them. In conjunction with FRP we are able to undertake Administration should the case need to follow this route.

Possession

If the property is occupied by the borrower then you will need to follow the Litigation route in order to obtain control of the asset over which you have a legal charge. Once a possession order is granted Bridgeshield can enforce and take control of the property on your behalf, handling all matters including security, clearance, maintenance, utilities, insurance, etc.

Litigation

Where possession is to be obtained via court proceedings BridgeShield can offer valuable assistance to support the application for possession, including witness statements and attending hearings.

How it works

  • When to get BridgeShield involved

    The earlier BridgeShield can be involved in a case the better. Understanding the loan, the borrower’s circumstances and the status of the property early can help us establish the full facts and then choose the right course of action from the outset. For example, if a receivership route was followed on the assumption there were tenants in place, only to later find out that the borrower has moved in and possession through the court is necessary.

  • Identifying the best course of action

    It’s vital to select the right process for each new case to prevent time delays. Once we have fully examined the case details and conducted our own research, we will report to you on which route we believe is correct and why this route is the most suitable. Regardless of what course of action is required; receivership, possession through the courts or Administration, BridgeShield can facilitate and manage each step of the journey on your behalf.

  • Putting the plans to action

    Whatever the required route chosen, we take control of the process and oversee every step along the way, including assisting the lawyers in preparing the documentation necessary for a streamlined receivership instruction procedure. Our expertise means that we’re able to actively support in multiple scenarios, for example providing witness statements in advance of a possession hearing, ensuring the court is fully aware of all relevant facts, thus minimising potential for delays in obtaining a possession order.

  • Managing the asset

    Regardless of how possession has been obtained (i.e. via court proceedings or receivership) managing the underlying asset is paramount. Regardless of property type, whether it is vacant or occupied, our facilities management team will manage the property from the point of possession, handling any rent collection, insurance, cleaning, CCTV, alarms and general maintenance for the duration of our appointment.

  • Enhancing value and increasing saleability

    Sometimes it is necessary to explore options to add value or to enhance the general saleability of a property. This may be done by obtaining planning permission, undertaking or finishing off works, decoration, or something just as simple as clearing and cleaning the premises. Every situation is unique, and we assess the appropriate strategy on a case-by-case basis, using our experience to make sure that every property is positioned optimally to achieve the maximum possible value.

  • Keeping you up to speed

    We provide comprehensive reporting to help you keep up to date with your cases, delivered weekly on a day that suits you. The format has been designed with feedback from our clients and includes the prior week’s update, the most recent activity and any outstanding action points, which means you’re always in touch with progress. We’ll also provide incremental updates on key events or changes throughout the week.

  • Developing the marketing strategy

    It is imperative that the correct marketing strategy is used for each property. For example, not all properties sell well within an auction environment, whereas others might. It’s vital that we identify the correct route from the outset to ensure the optimal strategy is executed for that asset specifically. We have extensive experience with designing marketing strategies for each property - our suggestions with substantiation will be presented to you for discussion and approval.

  • Managing the sale

    Once the property is under offer, it is vital that the pressure remains on all parties throughout the sale process. We’ve noticed that once a property is under offer the sense of urgency can be lost ‘in legals’. To prevent things drifting, we maintain our interaction with the buyer, the agent and the solicitors to maintain focus and ensure the sale progresses to completion at the earliest opportunity.

  • Completion

    Once the property has been sold and all costs deducted, net funds are returned via solicitors to redeem against the outstanding loan balance. In addition to handling the practicalities of dealing with agents, solicitors and keys on the day of completion, we will tie up any loose ends and cease insurance, security and any other remaining services.

Have a case?
Speak to a member of our team to see how we can help.
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