How to transfer deposit and then final payment to solicitors for purchase?

Okydoky25

maninthestreet wrote: »

Last time I moved (17 years ago), my solicitor required payment via a bankers draft, and would not accept a cheque.

Oh we'll I guess Chaps it is then. Just a shame as I thought this way would be easier with us seeing Solicitors weeks before exchange. One less thing on my list.

jesskel

aldershot wrote: »

I must admit I am always a little surprised that people query a £25 CHAPS fee when sending many £000s. Its only a one off and you are buying a house. Whether you pay £150,000 or £150,025 doesn't really matter. Go into the bank, send it safely and in one piece and avoid any potential risks of it ending up late or in the wrong place.

My intention has always been to send it the safest way possible, I was asking for advice as I have heard of these payments but never myself had to use them, so I was asking for general info ie; timescale, set up in store on online etc. I am more than happy to pay £25 to make sure it is sent and all is correct, I didnt know the fee was so little (I was expecting it to be alo more if im honest).

jesskel

Thanks everyone, I shall arrange with the bank to do a CHAPS transfer once we finally have dates from our sols.

aldershot

jesskel wrote: »

My intention has always been to send it the safest way possible, I was asking for advice as I have heard of these payments but never myself had to use them, so I was asking for general info ie; timescale, set up in store on online etc. I am more than happy to pay £25 to make sure it is sent and all is correct, I didnt know the fee was so little (I was expecting it to be alo more if im honest).

My apologies if I was a little short. When sending a large amount to a solicitor for deposit or maybe the full amount, CHAPS is the quickest and safest way to go. Don't rely on internet banking or Faster Payments. You will pay a fee but you will get same day and better security.

JimmyTheWig

When we moved recently they owed us money at the end of it, so it didn't come up.
When we moved 8 years ago we needed to give them money. Solicitors asked for a Bankers Draft. This was free from Santander (Abbey at the time, quite possibly).

Newly_retired

Well I paid mine using several lots of Faster payments, from 3 different accounts, and in one case, £10k x 4, because of limits. Santander has a generous limit which covered the bulk. I allowed 4 days and everything went through fine.
Ps. Then the solicitor told me we were £100 short, as she had miscalculated. This didn't prevent the purchase going through as she said her fee would have to wait for the shortfall as it was her fault. Maths is not my strong point as I hadn't noticed!

noh

When I moved 11 years ago I did pay by cheque.
The solicitor wanted the cheque delivered to him 1 week in advance of completion. Otherwise it would have been CHAPS on the day.