Based in Manchester, the firm operates nationwide and specialises in defending clients against the threat of repossession. It claims to be the only firm in the UK that can take borrower instructions, negotiate with the lender and then instruct solicitors to act on their behalf in court as one process.
Luke Memory, Managing Director of Revival, says:
“We‟re launching into the intermediary market as initially many struggling borrowers will understandably turn to their mortgage adviser before seeking third party help. By linking with intermediaries we are able to provide brokers with an accessible and effective solution for their clients to keep their homes.
“Our service has been extremely successful over the last two years and has secured payment arrangements and suspended orders that have saved over 1000 family homes. We have a 98%+ success rate in helping borrowers avoid repossession, including many where the situation has been resolved with just hours to spare before the eviction is due to take place.”
Phil Marshall, Client Services Director at Revival, says:
“Having worked as a lender BDM and a broker I am well placed to see the world from their perspective. The intermediary market has had a challenging few years but the one thing brokers have always had at the core of the business is the relationship with their clients. We‟re offering a way to deepen this relationship with those clients who are experiencing serious financial difficulty in relation to their mortgage payments.”
The total number of repossessions in 2011 was 36,200, according to the Council of Mortgage Lenders. Although this was the lowest annual total since 2007, the CML has said it: “expects the increasing pressures on the household sector to unwind some of the improvements in mortgage arrears and repossessions experienced over the past two years”.
It has forecast 45,000 repossessions in 2012 and this is on the back of what we all know are unsustainable interest rates in the longer term.
