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Telegraphic Transfer fee £23.50?
Dopple
Posts: 373 Forumite
It may sound a drop in the ocean when adding up all the costs of buying a new home, but why is it that solicitors charge £23.50 for a bank transfer?
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Comments
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Because that is what the bank charges them.0
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That sounds quite cheap. Can be £25 or £30.Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
yeah our solicitor is charging us £30 for that0
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Last time I did a CHAPS/TT payment was about 12 years ago and it was £19 then. So, £23.50 sounds pretty good.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It's for a same day transfer so that all parties can be sure that the money has arrived on time. That's a reasonably normal fee for this type of same day transfer.0
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I was expecting to pay this fee, but in the end my solicitors said a cheque would be ok. I suppose it depends on how quick the process needs to be done by.
Gogette0 -
just be thankful you aren't paying £35 which is what we charge!0
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