Restriction on property at land registry

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
Posts: 1
Joined: Sat May 20, 2017 1:32 pm
by ching » Sat May 20, 2017 1:32 pm
Why my broker put a restriction on my property at land registry.

Thank you
User avatar
Forum Expert
Posts: 22892
Joined: Fri Dec 17, 2010 11:14 am
by Foggy » Sat May 20, 2017 2:23 pm
I assume you are in an IVA and the "broker" is your IP (Supervisor). In which case, and this should have been explained to you, you will need to see about releasing equity near the end of your IVA. The details of this will be in your paperwork. The restriction is merely so that you don't sell the property without your IP knowing --- as, if you did sell, the prioceeds would be payable into your IVA for your creditors.
User avatar
Forum Expert
Posts: 71448
Joined: Mon Mar 17, 2008 4:02 pm
by kallis3 » Sat May 20, 2017 2:44 pm
Agree with Foggy - are you in an IVA?
User avatar
Industry Expert
Posts: 592
Joined: Thu Nov 03, 2011 10:03 pm
by Ryan » Mon May 22, 2017 9:36 am
As has already been mentioned if you are in an IVA it would have been registered by your Practitioner - nothing to do with a Broker. Best to make sure that they arrange to have it removed once the IVA has ended as sometimes they overlook this which can lead to delays in re-mortgaging, etc.

4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Imhotep and 4 guests