It seems to be the week for it. The question
has cropped up loads of times this week. It is probably Dryden's solicitors who
are dealing with this and they have thousands of these. MX are trying to
offload their book because they have a lot of toxic debt and they are using
every trick in the book to get rid of these cases.
Unfortunately, you shot yourself in the foot with
regard to their fees.
It would have been easier to pay their fee
and then rely on their agreement to return the property to you than argue the
toss and end up in the situation that you are now in.
Once the property is in hand of LPA receivers,
it is virtually impossible to get it back, unless the lender consents. The
reason is that if the property were handed back to you, it can fall into
arrears again if the market changes or you no longer have the tenant. It would
almost be like a lender lending tenant with a poor history of payment, more
money. They simply do not do it.
There are tens of thousands of landlords in
the same situation as you are in, and there is no magic solution. It might be
worthwhile subscribing to this forum because you may get some ideas http://www.property-forum.co.uk/
You would need an expensive court action and
some proof that the lenders were acting or the receivers were acting illegally.
It is not going to be an easy battle
I'm sorry I cannot give you a definitive
answer to this, but I am afraid that there is not one. Can I help further?
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The thread remains open. Thanks