Utilising the expertise of London & European L&E’s in-house team and its panel of solicitors, Re-cover will manage the entire asset recovery process on behalf of the lender quickly and efficiently. Re-cover will also provide lenders with much needed intelligence – giving them greater control and visibility on each and every case.
L&E’s CEO Christopher Taylor commented: “The latest reports from both the Council of Mortgage Lenders and the Financial Services Authority show that the number of repossessions has climbed sharply again, and regrettably there is no end in sight. The twin shocks of the global credit crunch and rising inflation is,
however, impacting the real economy. Despite the flak that MPs and social commentators are directing at them, taking possession of a property is the last resort for lenders Those lenders who pared back their teams when repossessions bottomed out at the turn of the millennium are now seeing those teams stretched
to the limit to manage current volumes. Re-cover provides them with a strategic partner to help manage the process effectively and sensitively.”
