My husband and I completed an IVA in 2017 and due to debt free direct going into insolvency it took a further 18 months to receive the certificate. We are currently in the process of remortgaging as we have been on an interest only mortgage and would like to know start repaying the capital. We have just been advised by the lawyer today there is a restriction on the property and there would be a fee to remove it, that was ok then they have now said this could take time due to the debt free direct insolvency, and they may now not be able to proceed further. We were not aware of the restriction, can this be removed without any issues as the IVA was completed and as far as we are aware the creditors satisfied? Obviously we are keen to move forward and this may now hold us back
Your IP should have removed the restriction. Get in touch with them or send a copy of your completion letter to Land Registry and ask them to remove it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
DFDs administrators should be able to remove it. Otherwise you can do so yourself,but it will take a few weeks. Here is the reply I got from Land Registry on the matter:
To withdraw a restriction H M Land Registry would normally expect to receive a completed form RX4 by the person or company that has the benefit of the said restriction. If the beneficiary is unable to provide this RX4 then this form should be completed by whomever has inherited the benefit of the restriction and appropriate evidence of devolution of title lodged as part of the application. This evidence should show a clear link between the beneficiary named on the title register and the applicant that has completed form RX4.
If restriction is not withdrawn, then an application would need to be made for its cancellation. Cancellation is the term used in rule 97 of the Land Registration Rules 2003 to refer to an application to cancel a restriction that is no longer required.
Any person may apply to cancel a restriction. The application must be made in form RX3 and no fee is payable.
We will cancel the restriction if we are satisfied that the restriction is no longer required. The application must be accompanied by evidence to show that this is the case. If anyone is referred to in the restriction and if an address for service is listed for that person, we will usually notify them of the application and give them an opportunity to object to the application before canceling the restriction.
Practice Guide 19 provides further information on notices, restrictions and the protection of third party interests in the register.