Reports-HP-2

Miscellaneous Reports:

House Purchase

BANK COMMITTEE: April 17th 1950

APPLICATION FROM Mr R G A MOORE

The General Manager submitted a letter dated 12th April that had been received from Mr R G A Moore together with a draft of reply.

Archdale

29 Colleen Avenue

Kings Norton

BIRMINGHAM 30

12. 4. 50

Dear Sir,

On Saturday 1st April I called and was interviewed concerning a proposal of mine to transfer a mortgage on the above property from the Wolverhampton Freehold Building Society to the Municipal Bank.

In the course of negotiations, I was informed that it would be necessary to obtain a surety for the mortgage. This I have duly obtained, but on discussing the matter with certain friends, and after further consideration I have formed the opinion, that this demand of the Bank is an imposition.

I would appreciate information regarding why this step is considered necessary, and also figures of the valuation of this property by the surveyor for which I paid the fee of 30/-.

I think it only fair to warn you in closing that a friend of my family, who is an Alderman of this City, has asked permission to raise this query at their next meeting. However, for the time being at any rate I am keeping the matter in my own hands, and trusting for your early and favourable reply.

I remain,

Yours faithfully,

(Sgd) R G A Moore.

C/EM

House Purchase 30723

18th April 1950

Dear Sir,

29 Colleen Avenue, Kings Norton.

Your letter of the 12th instant, regarding your application for an advance of £875 subject to the discharge of the existing mortgage on the above property with the Wolverhampton Freehold Building Society, was considered by the Bank Committee at their meeting yesterday.

As you may be aware, the Committee have the right under the Regulations to determine under what conditions any advance shall be made; but in view of the remarks you have thought fit to make in your letter, they do not consider, as the matter stands at present, that any good purpose would be served by proceeding further with your application.

I therefore return herewith the valuation fee of 30/-d. paid by you.

Yours faithfully,

9056 RESOLVED:- That the application of Mr R G A Moore be not entertained and the draft reply of the General Manager be approved.

BANK COMMITTEE: May 8th 1950

"CRESGARTH", BROAD LANE, TANWORTH-IN-ARDEN

Purchase Price	£1,450
Valuation	£1,400
Advance	£1,100

An advance of £1,100 was granted by the Bank in May 1949 in respect of the above-mentioned property, the lease having an unexpired term of 99 years, with a ground rent of £7 per annum.

Arrangements have been made to dedicate a strip of land in Broad Lane to the Warwickshire County Council for road widening purposes.

The land fronting the forecourt of the property in mortgage to the Bank forms part of the strip of land to be dedicated.

The draft Dedication Agreement, with plan annexed, has been submitted to Mr Cecil M Glover, the Bank's Valuer, who states that he had noted the terms of dedication and in view of the road improvement which is to be effected at the public expense and of which the mortgagor's property will have the benefit, he does not consider it necessary to vary his valuation.

The valuer states that although it is proposed to take a depth of 10 yards from the foreground, for road improvement purposes, the bungalow will still stand back from the improvement line a distance of about 20 yards and the property will not therefore be depreciated to any great extent as a result of the operations described.

The land to be surrendered comprises approximately 273 square yards.

A resolution is desired of the Bank Committee agreeing to the release of the land and authorising the Town Clerk to affix the seal of the Corporation to any necessary documents.

8th May 1950.

HOUSE PURCHASE SUB-COMMITTEE: July 17th 1950

32 BROUGHTON ROAD, HANDSWORTH

At their meeting on the 31st May last your Sub-Committee directed that the above-mentioned property in receivership be offered for sale by auction as the position of the mortgage was unsatisfactory. The reserve price was fixed at £200. The property was sold on the 28th June, 1950, by public auction by Mr Cecil M Glover who reported that the bidding was not keen and that he could only obtain the reserve figure of £200. The original advance, granted in April 1937, was £260. Soon after execution of the mortgage Mr John Alfred Homer, the Mortgagor, was admitted to the General Hospital suffering from an abscess on the brain. No repayments were made and Homer surrendered the keys agreeing to the Bank taking over the property. At that time the Bank failed to sell the property by public auction and appointed a Receiver. The property is now let at a weekly rental of £1. 10s. 0d inclusive. The balance outstanding on the mortgage is £428. 0s. 4d. (subject to apportionments re sale) and interest (£217), repairs and charges during the purchase.

Your Sub-Committee therefore recommend that:

(a) the Town Clerk be instructed to affix the Corporation Seal to any necessary documents in connection with the sale of 32 Broughton Road, Handsworth.

(b) the General Manager be authorised to write off the balance of the mortgage on 32 Broughton Road, Handsworth, remaining after proceeds of the sale have been received.

BANK COMMITTEE: July 17th 1950

41/55, 69/73 and 79/83, QUEENS HEAD ROAD, HANDSWORTH

Purchase Price (in 1937)	£3,000. -. -.
Valuation (in 1947)	£2,000. -. -.
Advance (in April 1948)	£1,400. -. -.
Outstanding at 13th July 1950	991. 15. 6.
Payments in advance	265. 13. 8.
Last payment 9th May 1950	82. 9. 4.

In April 1948 the Bank granted an advance to Mr Frank William Smith in respect of the 14 houses mentioned above to enable him to discharge a permanent mortgage of £1600.

The mortgagor has arranged to sell No 53 Queens Head Road and the General Manager has agreed to release No 53 from the composite mortgage on payment of the sum of £100 in reduction of the mortgage.

A resolution of the Bank Committee is therefore required agreeing to the release of No 53 from the composite mortgage and for the Town Clerk to affix the Corporation Seal to any necessary documents.

17th July 1950

BANK COMMITTEE: October 16th 1950

HOUSES - BROAD LANE AND CHANSTONE AVENUE, KINGS HEATH.

In September 1937 the Birmingham Municipal Bank agreed to grant advances to purchasers of houses newly erected by Mr Charles Arthur Price, Builder of 96, Mossfield Road, Kings Heath, Birmingham, subject to the builder assigning the freehold Ground Rents to the Bank as collateral security, to be released as and when the respective mortgages had been reduced to 75% of valuation.

The builder died on the 16th February, 1941, and probate of his estate was granted by the Birmingham District Registry to Harold Douglas Ellis, Traveller, and Ethel Eva Ellis (wife of Harold Douglas Ellis) daughter of the deceased, the Executors named in the Will.

The freehold Ground Rents were assigned as collateral security in nineteen cases, and the conditions governing the collateral security having been observed, a Resolution of the Bank Committee is desired authorising the Town Clerk to affix the Seal of the Corporation to any necessary documents, and also the sealing of the forms necessary to remove the entries from the Land Charges Register.

A schedule is attached of the nineteen cases above referred to.

Broad Lane, Kings Heath
No of house	Name of Purchaser	Purchase Price	Valuation	Advance	75% of Valuation	Amount owing
		£	£	£	£
198	Precious	415	425 *	415	319	paid off
210	Hunt, G A	415	395	390	296	paid off
212	Dumbleton	415	395	390	296	paid off
214	Vizard	415	395	390	296	paid off
242	Fairfield	500	490	450	367	paid off
244	Davis	500	575	475	431	paid off
246	Turner	415	575	390	296	£257. 3. 5.
248	Brinton	415	395	390	296	£179. 18. 3.
* Cash Collateral of £25 in addition to freehold ground rent.

Chanston Avenue, Kings Heath
No of house	Name of Purchaser	Purchase Price	Valuation	Advance	75% of Valuation	Amount owing
		£	£	£	£
7	Hunt, J	415	390	390	292	£263. 4. 10.
9	Haycox	415	390	390	292	paid off
15	Griffith	415	395	390	296	£39. 2. 9.
21	Jarrett	415	390	390	292	paid off
23	Ledbury	415	395	390	296	paid off
26	Yapp	415	390	390	292	£259. 18. 7.
28	Mason	415	390	365	292	£252. 18. 9.
29	Austin	415	395	390	296	£258. 4. 6.
30	Base	415	390	390	292	£262. 17. 3.
31	Workman	415	395	390	296	£260. 2. 4.
33	Cooper	415	395	390	296	£258. 18. 6.

October, 1950

BANK COMMITTEE: December 18th 1950

46 WATFORD ROAD, KINGS NORTON.

Purchase Price	(1950)	£1,275.
Valuation	(1950)	£1,000.
Advance by Bank		£750.

Amount outstanding 14th Dec. 1950	£666. 0. 6.
Paid in advance	£64. 0. 9.
Last payment 14th November 1950	£40. 0. 0.

The property, which is leasehold for a term of 99 years from 29th September 1896 was purchased subject to, but with the benefit of four Underleases in respect of 97, 99, 101 and 103 Row Heath Road, Kings Norton. The underleases are for the unexpired term of the lease plus 3 days, and therefore there is vested in the Borrowers, and in the Bank as Mortgagees, the reversionary interest of 3 days only in respect of 97, 99, 101 and 103 Row Heath Road.

Since the date of the mortgage advance the Borrowers have leased the freehold interest of 46 Watford Road and 97, 99, 101 and 103 Row Heath Road and have agreed to sell the freehold interest in respect of 103 Row Heath Road to the present Underlessee, and to enable him to do so, it is necessary for the reversionary interest in this property to be released by the Bank.

This will not affect the Bank's security and a Resolution of the Bank Committee is desired authorising the Town Clerk to affix the seal of the Corporation of Birmingham to any necessary documents.

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