Land Registry won't remove dissolved management company currently listed as restriction on title

princesskeely090

I am at my wits end on this! Essentially a property we are (trying) to purchase in an estate has a dissolved management company on the title. After weeks of back and forward, we understood to submit an RX2 and enter a deed of covenant (though this is with the dissolved mgmt company) - all submitted to Land Registry and they accepted, and disapplied the restriction but for 3 months only.  This appeased my solicitors but my lender will not release funds until the restriction is removed completely. I've had to complete on my sale independantly as they were fed up of the timeframe this has taken and am moving in with family, but I am really frustrated why A) Land Registry wouldn't remove it completely to begin with and why my lender feels it's too risky to lend! If LR can't agree to remove it then it renders this property (and all the others in this large estate) un-saleable surely! Urgently seeking advice on how to swiftly resolve this. 

rik111

Not unsaleable but until it gets sorted cash buyers only.
Why not just move on and be thankful you are not the current owner, it’s not the only place for sale.

princesskeely090

@rik111 a few reasons: we got it for a good price during covid. Current owners used it part ex for a new build so the developer wants to get rid, and there is also no chain. We are also 5 months into purchasing it! This is the very last action so it would pain me to have to start again. This is a house on an large estate so if everyone can only accept cash buyers only it will reduce the value of all those homes which surely cant be right? There is no need for a management company to be a restriction on a freehold at all, let alone a dissolved one. I guess we just wait and see whether LR can agree to remove otherwise yes, last resort is look elsewhere!

Haircut15

I would like 2 know the outcome of the above. X