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Restriction preventing refinance.
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Yes it has expired and I have pointed that out to my conveyance solicitor, I an still waiting for him to reply but trying to get it dealt with at the same time.propertyrental said:RESTRICTION: Until 23 March 2012I still don't understand the problem. Can someone explain?
That does sort of make sense, the fact that they’re a subprime lender and stopped making loans before I took out this mortgage makes me think this may be the case.user1977 said:I think we've heard about this sort of restriction before in repossessions, and it's designed to stop the lender being embarrassed (and face a claim by their borrower) by the buyer immediately flipping the property. So the buyer can't sell for a certain period after completion.0 -
I should point out I have contacted acenden and the mortgage works about this now.
I have also submitted a rx3 form to the land registry requesting the removal of the restriction on the grounds of it being expired.0 -
It would just be a matter of submitting form RX3 to cancel the restriction on the basis it has now timed out.1
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See post above yourschalky_white_2 said:It would just be a matter of submitting form RX3 to cancel the restriction on the basis it has now timed out.0 -
The RX3 should solve the issue. You may need to contact the Land Reg to ask them to expedite the application though - you can quote the impending sale as the reason.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her1 -
Thankyou, I have asked them to expedite the process.0
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