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House sale funds to be kept in solicitor's Client account or my own bank account?
Comments
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Hey I never realised that!However, temporary high balances greater than £75/85K (up to £1M) are also protected, for up to 6 months after they were initially deposited.
So I can keep my entire fortune in one account and just keep moving it every 6 months back & forth between the top 2 interest-paying accounts.....?0 -
Nope... its only £1M for specified major life events as covered here http://www.fscs.org.uk/what-we-cover/eligibility-rules/compensation-limits/deposit-limits/Hey I never realised that!
So I can keep my entire fortune in one account and just keep moving it every 6 months back & forth between the top 2 interest-paying accounts.....?0 -
Interesting.... I'll ask my solicitor to show me all the documents that prove the vendor owns the house. I actually paid 30% extra for a solicitor i felt i trusted!!0
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