10% deposit on exchange

Veteransaver

propertyrental said:

Withdraw cash and take a suitcase to the solicitor's office?

Seriously - CHAPS. £25/£30 is a drop in the ocean.

It's not just the cost, it's the hassle too of having to go into branch, provide ID etc.

MDMD

Veteransaver said:

propertyrental said:

Withdraw cash and take a suitcase to the solicitor's office?

Seriously - CHAPS. £25/£30 is a drop in the ocean.

It's not just the cost, it's the hassle too of having to go into branch, provide ID etc.

You can do CHAPS online
.
https://www.nationwide.co.uk/help/payments/send-money-to-another-account/#making-large-payments-with-chaps

bobster2

To save a bit of money (CHAPS fee) - you can break into smaller payments and send it by faster payements over several days to your solicitor or conveyancer's client account prior to the day of completion. So they have it already to go on the day.

Flugelhorn

user1977 said:

Veteransaver said:

If you want to avoid fees you could just pay it to your solicitors with a cheque.

If your solicitor even accepts cheques. Many won't.

I tried to do that at one stage (lockdown time I think)  but the solictor's bank's local branch had closed and they had to travel  miles to deposit the cheque, my nearest branch was miles away too so tricky to do transfer there. Ended up many many £20,000 a day transfers - lovely accounts lady at the solictors emailed me every day when the next one came through with a running total - all worked fine. Think the limit might have gone up a bit since then??

PS went into a bank more recently to do transfer like this and they did all the work, checked everything - well worth the fee 

Jonboy_1984

We arranged a chaps in branch with Barclays. Two hours later they set us a text from a short code number asking if it was us and to reply. Got interesting as our mobile network don't do messages to short code numbers.

The front line online banking then didn't recognise the short code number and passed us to their fraud team, who eventually figured out it was genuine and the relevant staff member, who had left for the day....

Luckily we had a few days in hand. 

badger09

MDMD said:

Veteransaver said:

propertyrental said:

Withdraw cash and take a suitcase to the solicitor's office?

Seriously - CHAPS. £25/£30 is a drop in the ocean.

It's not just the cost, it's the hassle too of having to go into branch, provide ID etc.

You can do CHAPS online
.
https://www.nationwide.co.uk/help/payments/send-money-to-another-account/#making-large-payments-with-chaps

I did exactly that with a very similar amount in Feb 2021 a couple of days before we completed on our current home. 

Nationwide had a tech issue, said the transaction hadn’t completed, so to try again later. Several hours later I did just that. Woken early next morning by 2 texts confirming both CHAPs payments😨
I spoke to Nationwide who assured me they wouldn’t have sent both without contacting me 1st.