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; request a free guide on NISAs from Hargreaves Lansdown
The Insider: Fridge-freezers
Questions of Cash: What are my rights if my leak is caused by neighbours’ roofs?
Pension mortgages: 'The advice I was given was wrong and now I face losing my home'
Bank-beating exchange rates on your international payments
Your money: Let’s hope for a fairer, more honest 2015
- 1 The political parties aren't all the same – which means 2015 will be a 'big-choice' election
- 2 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 Naomi Wolf reacts to Isis 'conspiracy theories' critism after she questions whether beheading videos are real
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
Day In a Page
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A deceptively spacious, beautifully presented Georgian home with 3000sq ft of living space and five reception rooms
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
A three-bedroom, 15th-century cottage with original features in the picturesque village of Sissinghurst
A six-bedroom terraced house with large south-facing roof terrace, cinema room and wine cellar
A new seven-bedroom home built in Queen Anne-style with swimming pool and parkland views in Mortimer
A listed, four-bedroom farmhouse in the rural hamlet of Rushall with detached barn, four acres of gardens and paddocks
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens