Residential property firm Property Portfolio Rescue (PPR) has unveiled a ‘Stop the Repossession’ service to advisers.
PPR says its service allows advisers to provide their clients with an alternative to repossession and offers an opportunity for the client to sell their property or property portfolio quickly if they are faced with repossession action.
Referral fees are up to 2% of the sale of the property or property portfolio that is purchased. PPR says it liaises with the lender on the client’s behalf to ensure the best deal available is offered.
The service is offered not only for residential purposes but for any client who needs to sell their property be they a businessman who owns a small portfolio and needs a cash injection, a commercial landlord looking to offload their commercial premises or a property company with a large portfolio or retail and/or residential assets.
PPR already own over 200 properties and manage over £40 million worth of property assets as landlords.
Nick Hopkinson, director of Property Portfolio Rescue, said: “It is an unfortunate fact of life that many individuals and companies are facing the all too real threat of repossession on their properties at this time. Mortgage rationing is causing real problems for many property owners at the moment and anyone needing to remortgage is going to struggle unless they have a huge amount of equity and a perfect credit score. Refunding current debt levels is increasingly difficult and therefore clients may believe they have little option but to succumb to repossession. However