The Charlbury Group has launched a Law of Property Act 1925 (LPA) receiver system. The technology firm has developed its Arrears Management System to create direct integrations between lenders and their LPA receivers.
LPA receivers are appointed to take charge of a mortgaged property by a lender whose loan is in default, usually with a view to sale or to collect rental income for the lender.
Paul Duckworth , director at The Charlbury Group, said: “This was a natural extension to our Arrears Management System which now links over 27 firms in the mortgage sector and has proved that integrations between firms’ individual workflow systems provides a number of benefits not least the removal of errors as no re-keying is required. It is crucial to the success of such systems that they should support but not dictate how firms choose to work
