High Deposit Low Income

Danny30

I am hoping to get a better job in the future and get away from benefits. 

swaledale_one

At the end of the day you most certainly pay into the system and are entitled to some help, I'm just gutted I'm in a universal credit area where the only time you get any help is if you've not got a job which is abit frustrating, the other half has recently gone part time affter having our first child so we are now taking in similar to yourselfs so still finding our feet.

Danny30

Yes, Universal Credit does seem to be a downgrade from what I hear. You should still be eligible for the tax credits if your wife is working part time over 24 hours though. I hope everything works out for you and things improve for you now. 

Danny30

So the broker called me back and said they are willing to lend £94,500 instead of £105,000. I can still move ahead with that however I asked him if they would offer more so will now have to wait until Monday or Tuesday to hear back. 

Danny30

Quick question if anyone can help Is there a way to transfer a larger deposit from a bank account directly to the solicitor? The normal limit seems to be £25k so that would mean sending money daily for many days to get the money to the solicitor. Sounds a strange way to do it.

Thrugelmir

Danny30 said:

Quick question if anyone can help Is there a way to transfer a larger deposit from a bank account directly to the solicitor? The normal limit seems to be £25k so that would mean sending money daily for many days to get the money to the solicitor. Sounds a strange way to do it.

Yes by CHAPS. You'll need to go into a bank branch to do this. There'll be a charge as well. 

Danny30

@Thrugelmir mir Any idea what the maximum chaps amount would be for HSBC out of any interest?

Thrugelmir

Danny30 said:

@Thrugelmir mir Any idea what the maximum chaps amount would be for HSBC out of any interest?

November 2019 charge was £17.  Whether it's still the same? 

Danny30

Thrugelmir said:

Danny30 said:

@Thrugelmir mir Any idea what the maximum chaps amount would be for HSBC out of any interest?

November 2019 charge was £17.  Whether it's still the same? 

Thanks I am just unsure on their transfer limits. I will have to pop into a branch today to ask the maximum that can be transferred at one time.

Thrugelmir

Danny30 said:

Thrugelmir said:

Danny30 said:

@Thrugelmir mir Any idea what the maximum chaps amount would be for HSBC out of any interest?

November 2019 charge was £17.  Whether it's still the same? 

Thanks I am just unsure on their transfer limits. I will have to pop into a branch today to ask the maximum that can be transferred at one time.

You'll be fine with regard to limits. That's the whole idea of CHAPS. Remember to take ID with you.