Pre-administration
Before we appoint a receiver formally, we ask the same firm to advise us as to the best way of positioning ourselves to recover loans in the most time-efficient and cost-effective manner. The firm will generally work with the borrower to investigate their current position and the security property before ever taking on an appointment. This often leads to borrowers taking action to refinance/sell their property to secure repayment before the receiver is appointed, so is a good way of encouraging a resolution.