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UK Buy To Let Mortgage Shortfall Dangers of LPA Receivership









Updated 4th February 2024

Mr B bought a property in 2004. All went well for 2 years until the tenant failed to pay rent and by 2006 Mr B was forced to legally evict them. Mr B attempted to ‘keep up’ his mortgage payments but without the tenant’s rent and with the extra costs incurred mortgage arrears accumulated.

The lender appointed a LPA Property Receiver in 2006 and they then ‘sat on’ the property. Mr B had no input on progress and the property remained vacant and without any actions to Let the property costs to the mortgage account increased.

The property remained empty and un kept losing value for almost 3 years. Mr B’s letters to the lender were rebuffed and excuses were made for lack of progress and lost value. Eventually, the property was put up for sale at a maximum price with one agent appointed on a sole agency agreement.

Despite the lenders and receivers ‘shortcomings’ during the receivership period, the lender obtained judgment for the accumulated outstanding mortgage debt and immediately attempted to obtain a charging order over Mr B’s home.

Fortunately, the judge refused to allow a charging order because the mortgaged property had not been sold at that time. The lender put Mr B under considerable pressure to provide payments and a voluntary charge over his home. Mr B made minimal payments as his health deteriorated and his income dropped.

By 2021 Mr B was being ‘pushed’ even harder for payment and personal financial information on a regular basis from the lender’s debt recovery unit. It was then (having failed to obtain any redress from the Lender) that Mr B decided to approach IBAS for assistance.

This case would NOT have been resolved using either the FOS or BBRS - simply because neither would have accepted this case as a viable dispute after the Lender's Court judgment was obtained. Also, this case would not have fitted into FOS or BBRS time Limitation restraints or general guidelines.

IBAS agreed to fully investigate Mr B’s case and all that had occurred since 2006 under membership.

The result shown by Mr B's Testimonial (below) was due to our 'in depth' investigations over many many hours which then led to a very good result for the borrower being achieved.

Mr B's Testimonial for IBAS is shown below -


Mr B's Testimonial for IBAS


"I am absolutely lost for words with this outcome. I would like to thank all the staff of IBAS who have worked on my case or in the background.

You have lifted a huge burden of debt off my shoulders and saved my home from the clutches of (Lender's name redacted). I appreciate all the work you have done for me, right from the first day when you took my phone call.

Independent Banking Advisory Service have totally exceeded my expectations.

Whilst I was pinning my best hope on IBAS negotiating a reduced final settlement that I’ll be paying off for years to come, you managed to get a bigger and better outcome for me. The incredible letter written to the Regulators was beautifully crafted and presented to achieve a purpose and it did.

That letter showed the meticulous investigation and analysis IBAS did on my file and you were able to extract all the key points from the investigation and presented them in a logical order to the Regulator to achieve maximum impact.

IBAS analysis revealed aspects of my case and conduct of the lender that I wasn’t even aware of myself. As a result, the lender knew the game was up. They threw in the towel and wrote off the entire mortgage shortfall debt of £70,000 remaining.

I feel a huge sense relief after 15 years of stress and the lender hoping to recover their inflated debt from my home. In many ways, IBAS is the real winner in this case.

Their dual knowledge of the rule book and how banks sometimes operate on the fringes of legal conduct and what is morally acceptable, allows them to spot where questionable act and actual misconduct has taken place.

IBAS is quietly providing a very valuable service to the public but they’re not as widely known as they should be. It took me numerous Google searches before I found IBAS website.

I would recommend IBAS to anyone in the UK who is having problems with their bank or mortgage lender. Don’t try doing it by yourself, allow IBAS, the professionals to sort it for you. Thank you IBAS!"


Contact IBAS with your concerns



If you have any uncertainty regarding your Mortgage Lender email us with your concerns


If you are facing Lender pressure for Mortgage Arrears or Repossession In England - this information could assist you


The major difference between IBAS and any other advice organization is the depth of IBAS specialist knowledge and greater banking experience from investigating business banking dispute cases for 30 years.

Combined it provides IBAS members with better value and a better chance of success.

IBAS investigate, Challenge and Resolve UK Mortgage Shortfall Debt Claims.



By 2002 Independent Banking Advisory Service had obtained in excess of £21 million in refunds, write-offs and write-down of bank debt for Business Banking customers from successful investigations of UK Business Banking Disputes


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IBAS has featured on BBC TV, BBC 1999 Testimonial for IBAS BBC TV News, ITV News, Meridian TV and Sky TV News since 1992 and contributed banking editorials and business banking articles for Sunday Times, Times, Daily Mail, Daily Express, Telegraph and Daily Mirror.

Independent Banking Advisory Service (IBAS) - launched in 1992 and are UK Specialist Business Banking Dispute Resolution Experts assisting and advising UK Business Bank customers with UK business banking account overdraft, loan disputes and business banking debt disputes.