Property Receivership and COVID-19: Enforcement now the stay is lifted
It was the date that Property Receivers had long been waiting for…
On June 1, the ban on bailiff-led evictions in England was finally lifted after several delays.
For the first time in more than 14 months, it became possible once again for bailiffs to evict those who have defaulted on loans linked to residential properties.
It’s worth noting at this point that the situation differs across Britain with the stay on possession orders in Wales being lifted on June 30, while in Scotland that date is currently September 30.
In addition, the ban on evictions for businesses unable to pay their rent due to coronavirus was extended by the government on June 16 until March 25, 2022.
Property Receivership post-stay
So, what’s the first month been like for Property Receivers seeking to evict borrowers and tenants from residential properties in England?
Since June 1, CG&Co has consistently been able to ensure that High Court Writs of Control are both granted and enforced.
In my experience, many of the courts in Greater London are far busier than those outside the M25, resulting in further delays as expected.
Nonetheless, the courts – overall – are coping, even if many are finding themselves stretched by the backlog of cases.
What’s more, once writs are granted they’re being enforced swiftly and efficiently by our preferred High Court enforcement officials.
At CG&Co, we have long-standing relationships in place with some of the best enforcement officers in the business – and this has paid dividends at a time when demand for bailiffs’ services has never been greater.
But another benefit has also resulted from the stay being lifted…
It has clearly focused the minds of many borrowers in default who’d previously been reluctant to engage with us.
We’ve found that many now want to resolve their situation without further delay – and that can only be good for lenders.
But those that continue to battle – and have sought to apply for a suspension of their eviction – have been unsuccessful due to our swift action, with the assistance of the appointed solicitors.
CG&Co has adopted the most highly proactive approach to Property Receivership since the pandemic began.
We’ve consistently ensured that each case is as far advanced as possible – and we’ve already witnessed first-hand since June 1 that this approach was the right one for our clients.
With the courts and bailiffs widely expected to become even busier in coming weeks, our proactive strategy will continue unabated.
At this point in time – more than ever before – lenders simply have too much to lose by not working with the most proactive firm of Property Receivers.
Daniel Richardson, is a Partner and Property Receiver at CG&Co. Founded in 2012, CG&Co specialises in Property Receivership and has the expertise to deal with default customers and return funds to lenders as swiftly as possible.