The Sherm Group buy all types of residential and commercial property in the UK. When you want to sell a property quickly, you can be assured of a guaranteed cash offer from The Sherm Group. We can purchase any property, in any part of the UK, in only one week! In some cases we’ll even cover the legal fees and the option of delaying the process if you require more time to finalise your affairs e.g, if insolvency is looming or if you subject to an IVA.
The Sherm Group speaks to 1000’s of landlord each year faced with the prospect of losing their ground rents and freehold interests through repossession or insolvency issues. Actions such as taking money out of the business, or transferring assets at less than their value, may constitute fraud and is a criminal matter.
In addition, transfers of a company’s assets shortly before the onset of insolvency may constitute a preference or undervalue transaction and be overturned by the court.
The Sherm Group have a policy of having ground rents and freehold interests professionally and independently valued by ‘bank approved surveyors’ to ensure all transactions are legitimate and are carried out in the normal course of business. The Sherm Group has close ties with Licensed Insolvency Practitioners, and if appropriate can discuss all transactions in advance.
A common remedy for an those in debt is an IVA or Individual Voluntary Arrangement. An IVA is a legally binding agreement between you and your creditors (the companies you owe money to). The arrangement outlines how much you owe, and what you propose to pay back over the term of the arrangement (normally 5 years). During the term of the arrangement, your creditors won’t contact you, and as long as you keep up with the repayments, once completed, you become debt free.
In order for an IVA to be feasible, there are some minimum requirements that must be met.
These requirements are: