My moving out but not moving in yet, how will the money transfer work?

Jeffrey_Shaw

mrssjs wrote: »

We've just done the same but requested a cheque so to avoid £35 TT fee. We'll hold on to the money until our new house is ready and then transfer to the new mortgage.

How much: £35?! Banks usually charge way less than that for a CHAPS payment; HSBC's fee is £12 or £17, for example.

G_M

Jeffrey_Shaw wrote: »

How much: £35?! Banks usually charge way less than that for a CHAPS payment; HSBC's fee is £12 or £17, for example.

But as I'm sure you know conveyancers routinely charge £25, £30, or £35 for CHAPs (poor dears have to cover the admin cost too!)

Jeffrey_Shaw

It depends what the charge item on the Bill of Costs says.
If it's just CHAPS fee, no. The Bill can show only the fee incurred (+ VAT, if recharged to client, even though bank fees are zero-rated).
If the Bill covers the legal fees inc. CHAPS fee, however, it can be greater.

fcorry2008

Thanks for the advice in this thread, apologies if my first post was misleading.

What I meant was that I'm moving into temporary accommodation on the 8th and my belongings are going into storage, I'm fully aware that I am legally bond to vacate my current home on this day. All being well I will move into my new home a few weeks later (as long as they get the utilities sorted that is). I think you have to be flexible in this market and this is why I agreed to move out on the 8th, otherwise I would have lost the sale.

I'll leave the funds with the solicitor as this will be less hassle and save the several transfers.

Thanks,

Fraser

missile

My concern would be "will the new build will be ready on schedule?" Mine was several weeks late. Fortunately I waited until after I moved to sell my old house.

fcorry2008

missile wrote: »

My concern would be "will the new build will be ready on schedule?" Mine was several weeks late. Fortunately I waited until after I moved to sell my old house.

Its already overdue by 2 weeks and it could be another month worst case scenario. Builders are just awaiting the road to be closed so that th utilities can connect to the mains, electric + gas. As soon as this is done it won't be long as the house its pretty much complete inside and out. Thankfully my temporary accommodation is flexible (a friends letting me rent a rather nice apartment he owns at mates rates). I'm using PODS for removal & storage to take the stress out of it (they dump a very shipping type container on your drive, you fill it at your own pace with your house hold belongings and then they drop it off at your new address to unload at your own leisure). Its an american concept and it only works out costing a bit more then moving usual regular way. For anyone who's interested websites - http://www.pods.com/uk/