FTB, how do I pay the 10% deposit to the solicitor?!

[ItsAllTLAsToMe]

What's the quickest way to do this? TIA

Are you asking where you get the money from or the actual mechanics of transferring the money?

Sorry, the mechanics .

You'll need to let them have cleared funds at least a day before exchange, so either a bank cheque or bank transfer, or if you have to write a cheque, leave plenty of time for clearance.

err, ask for solicitor's bank account details and then ring your bank, and get the money sent over.

Mumblechum has given you the answer but presumably as a FTB your solicitor would be happy to answer any questions like that anyway.

Thanks everyone. Mumblechum, how do you get a bank cheque or a bank transfer arranged?

Sorry to be so clueless.

Go into/call your bank, armed with the details of your solicitors client account, and ask them to do it.

I'm just waiting for my solicitor to phone me back as well .

If you bank online, you'll need the solicitors' bank details (they will normally give them to you at least a week before exchange).

Then, set up the transfer online. I'm with Halifax and simply click the button saying "set up a new recipient", input the bank details and how much you want to transfer, and press "send".

Oh . And is that as quick with large transfers as it is with small transfers?

It depends how much it is and who you bank with as to how fast they will do it. Santander's limit was only about £300 for a "faster payment" until last year, I think.

Make sure you do it in enough time. The solicitors won't exchange until they have your money and other people in the chain get mightily pissed off when someone hasn't got cleared funds

I'm with Barclays and could only do 10k a day. Deposit was almost 30k so I did it over 3 days.

you should get a sheet from your solicitor detailing everything incl. bank transfer details.
take this into the bank branch with you.
they will (for a fee) do an electronic transfer which is in the other account within minutes + you will get a printout of the transaction for your files.
good luck!

Thanks Mousy, that sounds ideal. How much-ish is the fee?

with barklays was 25£ for the instant transfer (and they said they can only do the instant transfer for a large sum).

Great, thank you .

I transferred over 3 days via online banking. (10k limit)

The online transfer takes about 3 days as it will be a business account. We payed £25 to have it transferred immediately as my bank only allowed £10k max pay day online.

Thanks everyone - I'm definitely willing to pay £25 or so, to avoid me giving all of my £ to a random person online. Also, I haven't left myself enough time to sort this out a different way .

Please tell me that completion is less stressful!

Also, how should I pay the rest of the deposit? By personal cheque, but in enough time?

dunno, we paid it all in one go.
exchanged + completed the same day.
our sol gave us a sheet with all the costs/search fees/deposit that we took to the bank.

Why not pay all the deposit the £25 way?

Hmm, that's a good idea Trazzle...