Freehold Property Confirmation

 Many members of "The Association of Credit Providers" find themselves in a situation of wanting to be aware of the actual net worth of their customers and not just a credit score , they want to know that the actual address they have for their customer if owned by the customer and therefore is credit worthy.

In such a case The Association of credit Provider represent their members by getting copies of land registry deeds and analyze them for the following details :

• Proprietors of the property
• loan against the property
• estimated equity available in the property

Personnel "Freehold Property check" is a calculation on the actual freehold property value an individual has in their name .

In some of our member's industries the supply of goods results in them immediately becoming "Fixed Assets" and therefore are difficult to claim back under the "Retention of Goods Clause ". Now you can ensure that the customer is the same individual that owns the whole or part of the property that the goods are going to be 'fixed' to therefore ensuring security against the debt .

How this could be usefully :

Example (One)

Many building companies, home furnishing companies and property developers have been forced into "liquidation" because of poor cash flow and bad debt, caused by customer late payment or non payment.

Enforcement of credit score can prove unsuccessful if the customer has not registered the property in his own name and has no other assets to their name .

Example (Two)

If you customer is a sole trader or a partnership it can be difficult to find out in the public domain what the "Company" is worth .An indication of directors personal net worth can assist when analysis whether to grant risky credit limits and agreeing credit terms

Example ( Three )

Company law has and continues to change the corporate umbrella which used to protect directors is less of an umbrella and more of a magnet for trouble when companies get into difficulties, Director or shadow directors can now be held personally responsible Directors net worth can be very relevant when holding a director personal responsible for the company's debt .