Questions of Cash: Mortgage was paid off but no one told the Land Registry
Friday 05 April 2013
Q. My husband and I bought our house in June 1980 with a 20-year mortgage taken out with the former Leeds Building Society. As interest rates went up we increased our payments and did not decrease them when rates went down, so we paid off the mortgage early.
However we never received a DS1 form – proof that the mortgaged amount had been repaid – from either the Leeds Building Society or from Halifax, which took over Leeds. The Land Registry Office says they must have this for us to sell the property. Our local branch of the Halifax gave me a telephone number of the help desk which was very helpful, but I have written to the Halifax three times without getting a reply. MA, Hampshire
A. Halifax apologises for failing to deal with your inquiries properly. It says it is unable to issue a DS1 form. "These forms were produced by solicitors who were dealing with redemptions," it explains. "We would then complete these forms by adding the charge details and the solicitors would then send this on to the Land Registry to have the charge removed." Instead, it says, your solicitor or yourself should have completed a Form 53 at the time the mortgage was fully paid off, sending this to the Land Registry so that the mortgage lender's charge on the property was removed.
Halifax has checked the Land Registry records and confirms that the charge was never removed. The system is now fully electronic and Halifax has removed the charge to resolve the problem. It accepts that it did not deal with your inquiries correctly and has therefore sent you £75 to compensate you for your "distress and inconvenience".
Q. Around 12 years ago I was looking for a decent current account that paid interest. At that time Fidelity operated a cash unit trust in partnership with Clydesdale Bank, which provided the bank card and direct debits. This met my needs. In April last year I decided to change my current account provider and subsequently closed my account with Fidelity and therefore Clydesdale as well.
A couple of weeks ago, I received a letter from Equiniti, telling me my dividends from Lloyds Banking Group payable on 17 September last year and 15 March this year had been paid to my old Clydesdale/Fidelity account. The total sum involved is £25.90. It seems I hadn't told Equiniti of my change of bank.
I have phoned each party several times and none can help me, each referring me to the others. Equiniti insists it has sent the payments. Fidelity says this is between Equiniti and Clydesdale. Clydesdale says I have no account with them and they would have sent any payment back to Equiniti. I shredded my Clydesdale Bank account details soon after the account was closed. Can you help to track down the payments? NR, by email.
A. Clydesdale says the payment of £12.95 made last September by Equiniti on behalf of Lloyds was received into your account, which was still open at this time. It therefore forms part of your cash fund holding with Fidelity. The second payment of £12.95 was returned to Equiniti.
Equiniti, which is Lloyds' share registrar, confirms that this second payment was returned to it and Equiniti will now issue you with a cheque for £12.95.
Equiniti says it has a continual problem with shareholders not advising the share registrar of changes in bank accounts or addresses. It says it has returned £540m of funds to shareholders who failed to notify that they had moved bank accounts. Equiniti has worked with ProSearch to contact shareholders whose account information is out of date, or who have failed to advise it of a change of address.
Q. I had a problem some years ago with my teenage daughter swearing, so I started a swear box for us all to pay into. She has now moved out, still swears, but has left behind the swear box with a couple of hundred pounds in it! The trouble is that it is all in spare change and I don't know how to spend it. The idea was to go out for a really good meal, but I'm sure that a restaurant wouldn't let us pay in pennies and 10p coins. RS, Worcester
A. Lots of banks will let customers pay even large amounts of spare cash into their accounts. Barclays says that providing an individual has an account with it, the cash can be paid into their account. It can't, though, immediately be converted into notes. The cash must be bagged up in the correct denominations and needs to be rounded to full pounds. The bank asks customers not to make large cash deposits at busy times – in particular avoiding Saturdays and lunchtimes. RBS takes a similar approach, while many HSBC branches contain machines that enable spare cash to be automatically counted and paid into customers' accounts.
The Co-operative Bank says it does not impose limits on the amount of loose change that can be paid into an account, nor does the cash need to be bagged. But it asks customers who are depositing very large amounts of loose change – several hundred pounds or more – to give the branch advance warning.
The Post Office also accepts unrestricted amounts of spare change for deposit in accounts with banks where it has a contract to undertake customer transactions.
Otherwise you can use the small change to pay for shopping in large supermarkets that have automated (self-service) tills. Sainsbury's says it has no limit to the amount of change that can be used in its automated payment machines.
Many supermarkets have Coinstar machines located at their entrance, which convert cash into vouchers to be redeemed in store. However, these charge a commission of 8.9 per cent, which seems excessive to us.
Independent Partners; Do you need financial advice on your investments, pension or insurance? Book a free consultation with an independent Financial Adviser at VouchedFor.co.uk
- 1 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
- 5 If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...
Day In a Page
The terraces of this two-bedroom penthouse apartment offer panoramic views that stretch over fifty miles from the cliffs of Beachy Head.
In the heart of the coastal village of Mumbles and moments from the pier, this five-bedroom Victorian terrace is set over three floors and retains many original features.
In a sandbanks location, moments from the beach, this three-bedroom apartment has a large open-plan living area and a south-west facing balcony.
This four-bedroom home has an annexe accessed from the side of the house, with potential for improvement and conversion subject to the necessary permissions.
In the heart of the hamlet of Wardley, this five-bedroom period home offers countryside views and a stylish interior, with original features and open fireplaces.
Offering countryside views and landscaped gardens, this three-bedroom Grade II-listed lodge has a spacious conservatory and a large cellar that could serve as a workshop.
Set in approximately 1.5 acres, this four-bedroom home comes with a second, detached property that's currently used as an annexe.
In the hamlet of Newchurch, this former parish church is now a four-bedroom home complete with clock tower and eyrie.
Offering scenic views from a large balcony and sun terrace, this four-bedroom home has a wraparound garden and a heated swimming pool.
Offering views across the Humber and East Yorkshire Wolds from a glass panelled balcony, this four-bedroom barn-style home befits a life of leisure.
This four-bedroom home offers versatile accommodation with annexe potential; features include a hot tub, sauna and Norwegian BBQ hut.
Well-located for schools, colleges and the town centre, this contemporary thatched cottage offers flexible living space with six bedrooms.
Built in 1907, this four-bedroom Edwardian period home has been refurbished by the current owners, retaining many original period features.
Surrounded by landscaped gardens, this five-bedroom home offers living space across three floors.
This lovely country home in Burnham Market is currently run as a popular holiday cottage, with five en suite bedrooms and colourful gardens.
This three-bedroom 17th-century former village bakery is just a few miles from the East Sussex coast.
Set on a landscaped plot, this light and airy four-bedroom home comes with a log burner in the lounge, a fitted kitchen and an open-plan ground-floor layout.
Set sail for this four-bedroom farmhouse in Cowes. With five acres of land and an indoor pool, this home oozes character. There is even potential to let a one-bedroom annexe.
Built on a former chapel site, this impressive four-bedroom home boasts balconies, stunning views and contemporary modern living.
This three-bedroom house is situated in a quiet mews and set over three floors. Features include glazed staircases and high ceilings.
A period townhouse set over four floors, this five-bedroom home was built in the 18th Century and retains many original features.
With five bedrooms, this spacious home offers beautiful gardens and modern interiors - set within the popular market town of Bingley.
A few miles from the seaside at Perranporth, this four-bedroom farmhouse sits amongst nine acres of idyllic grounds - including a lake and two barns used as holiday lets.
In the pretty market town of Bungay, this grade II-listed Mill House is arranged over four floors, offering four bedrooms and three reception areas.
This first-floor flat comes with two bedrooms, an impressive open-plan reception room and two lovely roof terraces.
This five-bedroom home comes with a range of outbuildings including a large barn which could be converted into a self-contained granny-flat or rental.
Moored at Taggs Island and reached via a pretty garden, this two-bedroom houseboat has a vaulted reception room and skylit garden studio - currently a beauty salon.
On the edge of the city, this six-bedroom home comes with an outdoor swimming pool and a large garage block that has annexe potential.
A contemporary house spread over three storeys, this three-bedroom detached home has large sliding doors that open out to the River Quaggy.
Moored in Chelsea's Cheyne Walk, this houseboat offers two double bedrooms and a teak deck that's ideal for al-fresco dining.
This former village bakery, dating back to the 17th century, is now a three-bedroom detached home just a few miles from the East Sussex coast.
On the picturesque Isle of Man, this four-bedroom character home has a ground-floor shop that's currently run as a newsagents and a flat that would make an ideal holiday let.
In a new collection of flats, this first-floor two-bedroom apartment offers ample entertaining space and a prime view of Furze Green from a private balcony.
This three-bedroom stone-built cottage currently trades as the village store with a restaurant in the annexe and family accommodation on the upper floors.
Previously two semi-detached properties, this five-bedroom home is spread over three floors with a large breakfast kitchen, orangery, office and gym on the second floor.
This five-bedroom home enjoys countryside views over the Blyth estuary to Southwold, offering flexible living space with a ground-floor annexe - ideal for use as a holiday let.
Close to the market town of Eye, this four-bedroom detached home offers a double-height living room which takes the place of the original, 19th-century, chapel nave.
Dating back to the 19th century, this four-bedroom home needs modernising. Spanning three storeys, the red-brick house has a fireplace, a small terrace and a cellar.
Just outside of Cambridge, this single-storey home offers three double bedrooms, a living room with vaulted timber ceiling and ladder steps that lead to a mezzanine study area.
This six-bedroom Georgian home is on three floors with open fireplaces, a two oven Aga, an annexe, and cottage gardens with outbuildings and a car barn.
A former coach house, Glebe Farm Stable is now a three-bedroom cottage with a double car barn, an attached office, kennels and an outbuilding that's currently used as a gym.
Located beside an impressive Victorian viaduct, this four-bedroom home has an open-plan living area that is glazed on two sides, with skylights and high ceilings.
A former furniture workshop, this three-bedroom home has high ceilings and painted brick walls, in a village setting only fifteen miles from the coast.
This five-bedroom stone townhouse features a pine staircase and an Inglenuk fireplace, double doors from the lounge give access to an enclosed courtyard.
This five-bedroom, detached home blends traditional and modern design; the sleek kitchen features a gas hob and oven set within an exposed chimney breast.
Capitalise on the fabulous views of Trevone Bay by taking two homes and creating one spacious boutique B&B. Just a cliff-top walk from Padstow.
Surrounded by woodland, this five-bedroom manor house has plenty of outdoor storage space in the form of three converted loose boxes, two smaller outhouses and a woodstore.
This six-bedroom home is set amongst three acres of grounds. Currently a large family home, Clift Hill has potential to make a B&B or countryside retreat, subject to change of use permissions.
This Grade II-listed three-bedroom home is situated on a private road, just a short walk from the sandy beaches of Frinton-on-Sea.
Less than five miles from Malmesbury, this four-bedroom cottage comes with equestrian facilities and gardens that extend to approximately three acres.