A specialist repossession and eviction firm has been wound up following an investigation by the Insolvency Service.

Swift House Solutions, based in Stourbridge, offered repossession and eviction advice services to the public.

It had traded under the name Manage MyRepro.co.uk

The investigation found that Swift had continued the businesses of Repossession Management Bureau, RMB Assets and OM Payments which had all been wound up by the court last year following an earlier Insolvency Service investigation.

According to the Insolvency Service, Swift targeted and took advantage of vulnerable members of the public desperate for a solution to their housing problems.

The statement says: “In particular, the company made misleading and unfounded statements to clients and there was a lack of transparency regarding the fees Swift would charge.

“Swift obtained secured charges on clients’ properties. Clients were told the charge was to ‘protect the client’s equity’ should the property be repossessed by the mortgagee. In reality, the charges secured Swift’s fees.”

The Insolvency Service also says there was a lack of transparency regarding those involved in the company’s management and operations. Before the start of the service’s investigation the person controlling Swift – named as John Paul Dowdeswell, who also used the alias ‘Paul Dowd’ – tried to hide his involvement through the appointment of a Nominee Director.

The statement from the Insolvency Service includes a note that in 2013, the Solicitors Disciplinary Tribunal found that “John Paul Dowdeswell (a solicitor’s clerk) had failed to report material facts to clients and ordered that, except with Law Society permission, no solicitor or other recognised body shall employ or remunerate Mr Dowdeswell”.

Alex Deane, an Investigation Supervisor with the Insolvency Service, said: “Where it becomes aware of such activities, the Insolvency Service can and will close down companies that abuse the vulnerability of people in financial difficulties.

“However, I would urge people faced with repossession proceedings to take proper professional advice before granting a further charge on their property. Whilst this is ostensibly to ‘protect their equity’, in reality it serves only to secure excessive fees for the adviser.”