House Deposit

ribbox

Hi All,

Is there a good location to keep the deposit for a house before we transfer it to the solicitor? I think (hope) it only needs to be there for 1 month, needs quick access, not expecting any interest on the money.

I don't want to keep in the our regular bank as want to keep thing separate from the normal account.

Thanks in advance

M

grifferz

I don't really see why it is that difficult to keep separate from your usual transactions even if you put it in your current account.

But if you don't want to do that, just use an instant access online savings account at the same bank as your current account, for quick transfer between the two.

G_M

My mattress is a good place to keep it.

Note: my mattress, not yours.

Yorkie1

Norty G_M!!

martin2345uk

grifferz wrote: »

But if you don't want to do that, just use an instant access online savings account at the same bank as your current account, for quick transfer between the two.

Yup, that's what I did, worked for me!

G_M

Yorkie1 wrote: »

Norty G_M!!

Watcha gonna do? Spank me?

Yorkie1

Hmm, now then .... :rotfl::A

ffor99

Hi best to keep it in a separate account to your normal current account - basically avoid an account which you have a debit card for just in case your debit card gets stolen in the mean time.

I had a separate HSBC account where my deposit was kept and when it was needed to be transferred t the solicitor, the bank quickly transferred the funds to my current account first then bacs transferred to solicitor.

Hope this helps!