Help...What is the best way to pay a mortgage deposit?

sugarcheeks01

Firstly sorry if this post is in the wrong place, it is my first time:j

I am due to complete next Friday and expect my Solicitor will soon be telling me to look at getting her my deposit. My question is do I have to do it on the same day of completion and if so what method will gaurantee it goes the same day?

I bank with Barclays and I am confused over the faster payments method which is (apparently) free and the chaps method and which im not sure is free or not!

I have rang Barclays and the guy has just said i need to go in branch to do Faster payments it cant be done online, but the web site says it can, so im confused! any help will be appreciated. Thanks

GuidoT

You would usually put you solicitor in funds a week or so before completion or at exchange.

Your solicitor should have provided you with a statement of the monies required by now, it is likely to include any other transactional costs such as the (balance of) solicitors fees, stamp duty.

Thrugelmir

There may well be a monetary limit on the amount that can be transferred online in a given period under faster payments.

WellKnownSid

We just sent a cheque the week before so they had cleared funds... much simpler!