We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Day of Exchange
kriss_boy
Posts: 2,131 Forumite
I understand that I have to show my lender evidence of the deposit/increased equity I need to fund our move to a bigger house on the 26th july 2013.
As we have very little equity in our current house, the remainder of the money will be funded from savings... and our pay, right up till the day before the exchange... (I know!).
Does the physical movement of the money only occur on the day of exchange? If so, we are completely fine. Im just concerned that money will start to move early and the whole thing will bounce...
The wife and I live off my wage, and have been saving hers. Its a pain that we have little breathing space and need her pay the day before the exchange.
As we have very little equity in our current house, the remainder of the money will be funded from savings... and our pay, right up till the day before the exchange... (I know!).
Does the physical movement of the money only occur on the day of exchange? If so, we are completely fine. Im just concerned that money will start to move early and the whole thing will bounce...
The wife and I live off my wage, and have been saving hers. Its a pain that we have little breathing space and need her pay the day before the exchange.
0
Comments
-
I understand that I have to show my lender evidence of the deposit/increased equity I need to fund our move to a bigger house on the 26th july 2013.
As we have very little equity in our current house, the remainder of the money will be funded from savings... and our pay, right up till the day before the exchange... (I know!).
Does the physical movement of the money only occur on the day of exchange? If so, we are completely fine. Im just concerned that money will start to move early and the whole thing will bounce...
The wife and I live off my wage, and have been saving hers. Its a pain that we have little breathing space and need her pay the day before the exchange.
You've asked thi s question before and unfortunately the answer won't change. You will need some money a few days before, ask your solicitor for exact details and timings.0 -
You've asked thi s question before and unfortunately the answer won't change. You will need some money a few days before, ask your solicitor for exact details and timings.
One person answered my question, yet everyone else has said this is wrong.
Are we talking days or weeks? Missives are likely to be signed 4/5 weeks before the exchange date- surely its not at this point that my deposit is taken?0 -
Why start a new identical thread?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards