Finding out if I have an RX1. What should I be looking for ?

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awelon
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by awelon » Wed Nov 08, 2017 12:57 am
I have an IVA with Payplan, I am coming to the end of it and have been informed that there is an RX1 against our property, I have requested the information from the land registry but cannot see an RX1 charge against the property, what would this show up as and what should I be looking for?
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Foggy
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by Foggy » Wed Nov 08, 2017 7:49 am
It doesn't show in the Charges Register (C) as you would expect, but will be in the Proprietorship Register (B) listed as a Restriction, being a matter affecting disposal.
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awelon
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by awelon » Wed Nov 08, 2017 9:43 am
no there is nothing showing in (b) as a restriction! the only reference is to the mortgage company that we have the mortgage with! I do remember at the start of the IVA that a form was sent to me and I was very apprehensive as I didn't know what the implications were so I never signed it!
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Foggy
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by Foggy » Wed Nov 08, 2017 10:21 am
awelon wrote:
no there is nothing showing in (b) as a restriction! the only reference is to the mortgage company that we have the mortgage with! I do remember at the start of the IVA that a form was sent to me and I was very apprehensive as I didn't know what the implications were so I never signed it!


If you didn't sign the RX1 then they couldn't have registered a restriction! Looks like you slipped under the radar.
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Lisa Thomas
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by Lisa Thomas » Wed Nov 08, 2017 10:41 am
Who advised you that you have a restriction?

Not all firms register them.

IN any event if you do have one your IP should remove it when the IVA is completed successfully.
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awelon
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by awelon » Wed Nov 08, 2017 11:20 am
Lisa Thomas wrote:
Who advised you that you have a restriction?

Not all firms register them.

IN any event if you do have one your IP should remove it when the IVA is completed successfully.


I remember Payplan mentioning something about a restriction, when the forms arrived I never filled them in, I am currently negotiating my final extension year and looking into all the various implications which brought to light the fact that there is no mention of an RX1 in section b of the property documents. I am assuming that they should have chased this and it has slipped through the net! If that is the case then obviously once the IVA is final there will be no need for the RX4?
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Lisa Thomas
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by Lisa Thomas » Wed Nov 08, 2017 4:10 pm
Correct - if its not been registered then there will be nothing to remove.
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