On 23 Oct 2004, MM wrote

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

Ours was done (some 5 years ago) as a bank transfer -- I think we were
given a choice by the solicitor, though.

--
Cheers,
Harvey

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

"Harvey Van Sickle" wrote in message
...
On 23 Oct 2004, MM wrote

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

Ours was done (some 5 years ago) as a bank transfer -- I think we were
given a choice by the solicitor, though.

Yup ours was too.

--
MAlc

In article ,=20
says...
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

Depends how much it is. A CHAPS transfer to your account means you get=20
cleared funds on the same day, so you start earning interest immediately=20
- but it usually costs about =A315-20.

David

In message , MM
writes
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

Generally by cheque unless you specify bank transfer, or some other
method. (Cheque means the money stays in the solicitors account for
longer)

--
Richard Faulkner

On Sat, 23 Oct 2004 23:58:33 +0100, Richard Faulkner
wrote:

In message , MM
writes
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

Generally by cheque unless you specify bank transfer, or some other
method. (Cheque means the money stays in the solicitors account for
longer)


....and the interest paid to the client?? No, I thought not. A few
days interest on a few hundred grand across a few hundred customers a
year is a nice earner.

Still the banks pull the same scam on cheque clearance. Three days
on reconciliation between UK accounts? Yeah right.
I might believe 3 seconds. Just.


..andy

To email, substitute .nospam with .gl

In message , Andy Hall
writes
On Sat, 23 Oct 2004 23:58:33 +0100, Richard Faulkner
wrote:

In message , MM
writes
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

Generally by cheque unless you specify bank transfer, or some other
method. (Cheque means the money stays in the solicitors account for
longer)


...and the interest paid to the client?? No, I thought not. A few
days interest on a few hundred grand across a few hundred customers a
year is a nice earner.

Still the banks pull the same scam on cheque clearance. Three days
on reconciliation between UK accounts? Yeah right.
I might believe 3 seconds. Just.

.... And is there anybody who hasn't noticed that Safeway and Homebase
charge 2.5% for credit card payments now - for CC administration. How
much do they pay on transactions, 1% ?

crooks


The information contained in this post
may not be published in, or used by
http://www.diyprojects.info

--
geoff

In article ,
raden writes:
... And is there anybody who hasn't noticed that Safeway and Homebase
charge 2.5% for credit card payments now - for CC administration. How
much do they pay on transactions, 1% ?

Lots of places do, but it's not added to the bill.
Are you saying Safeway and Homebase add 2.5% extra on?

BTW, it costs business to handle cash or cheques too.
A know a corner shop keeper. He ends up with a surpless
of £1 coins, but a large deficit of coppers. He has
to pay to buy coppers from the bank, and pay to return
surplesses of £1 coins.

--
Andrew Gabriel

In message , raden
writes
In message , Andy Hall
writes
On Sat, 23 Oct 2004 23:58:33 +0100, Richard Faulkner
wrote:

In message , MM
writes
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

Generally by cheque unless you specify bank transfer, or some other
method. (Cheque means the money stays in the solicitors account for
longer)


...and the interest paid to the client?? No, I thought not. A few
days interest on a few hundred grand across a few hundred customers a
year is a nice earner.

Still the banks pull the same scam on cheque clearance. Three days
on reconciliation between UK accounts? Yeah right.
I might believe 3 seconds. Just.

... And is there anybody who hasn't noticed that Safeway and Homebase
charge 2.5% for credit card payments now - for CC administration. How
much do they pay on transactions, 1% ?

crooks

Is crooks your name, or are you calling them crooks? g

Do they actually add this to your bill, or is it one of those internal
things which enables them to avoid some VAT - which lots of firms do
these days.

I know IKEA are making a charge which is added to the bill, but I didnt
think Safeway and Homebase would take a lead on this?

--
Richard Faulkner

On Sun, 24 Oct 2004 04:07:39 +0100, Richard Faulkner wrote:


Do they actually add this to your bill, or is it one of those internal
things which enables them to avoid some VAT - which lots of firms do
these days.

I know IKEA are making a charge which is added to the bill, but I didnt
think Safeway and Homebase would take a lead on this?

I had clocked the fact that they tell you that 2.5% of the payment (the
same amount however you pay) was to their CC admin company. I wondered
why they had to tell us. I hadn't realized it was to avoid VAT.

Sounds like "Jaffa Cakes Are they bisuits?" About £10m quid is riding on
the answer.
I think the answer ws that the company won as they were classed as cakes
(NO VAT). It ws a phyrric (sp?) victory as Customs & Excise then
argued that they were chocolate cakes ( with VAT )


--
Ed Sirett - Property maintainer and registered gas fitter.
The FAQ for uk.diy is at www.diyfaq.org.uk
Gas fitting FAQ http://www.makewrite.demon.co.uk/GasFitting.html
Sealed CH FAQ http://www.makewrite.demon.co.uk/SealedCH.html

"Ed Sirett" wrote
| Sounds like "Jaffa Cakes Are they bisuits?" About £10m quid
| is riding on the answer.
| I think the answer ws that the company won as they were classed
| as cakes (NO VAT). It ws a phyrric (sp?) victory as Customs &
| Excise then argued that they were chocolate cakes ( with VAT )

If it wasn't true you couldn't make it up could you

Owain

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

Rick

In message , Huge
writes
raden writes:
In message , Andy Hall
writes

[23 lines snipped]

.... And is there anybody who hasn't noticed that Safeway and Homebase
charge 2.5% for credit card payments now - for CC administration. How
much do they pay on transactions, 1% ?

crooks

They're not charging *you*. It's a VAT scam.

And good on 'em. Anything that stops those evil thieving *******s in Downing
Street getting their hands on *more* of our money is a good thing.



I think we will find that those "evil thieving *******s" will collect
whatever they want from us, one way or another.

"We will not increase income tax" is a phrase which comes to mind.

--
Richard Faulkner

In message , Huge
writes
raden writes:
In message , Andy Hall
writes

[23 lines snipped]

.... And is there anybody who hasn't noticed that Safeway and Homebase
charge 2.5% for credit card payments now - for CC administration. How
much do they pay on transactions, 1% ?

crooks

They're not charging *you*. It's a VAT scam.

And good on 'em. Anything that stops those evil thieving *******s in Downing
Street getting their hands on *more* of our money is a good thing.

OIC



The information contained in this post
may not be published in, or used by
http://www.diyprojects.info

--
geoff

In article , Huge wrote:
And good on 'em. Anything that stops those evil thieving *******s
in Downing Street getting their hands on *more* of our money is
a good thing.

No it's a right pain. If I buy something for my business at PC World
they do this 2.5% thing which means having to enter the bill as two
items, one the goods, the other the non-VAT card processing charge.

--
Tony Bryer SDA UK 'Software to build on' http://www.sda.co.uk
Free SEDBUK boiler database browser http://www.sda.co.uk/qsedbuk.htm

"Andy Hall" wrote in message
...
On Sat, 23 Oct 2004 23:58:33 +0100, Richard Faulkner
wrote:

In message , MM
writes
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

Generally by cheque unless you specify bank transfer, or some other
method. (Cheque means the money stays in the solicitors account for
longer)


...and the interest paid to the client?? No, I thought not. A few
days interest on a few hundred grand across a few hundred customers a
year is a nice earner.

I think that there are strict rules on this - at least there used to be when
I was part of audit of Solicitor's accounts (though not companies, the Law
Society had requirements for independent audit of Solicitor's accounts).

IIRC it was something like a limit, whether time, value or some combination
of both. Under the limit, Solicitors did not have to pass on interest
earned on client accounts (and those accounts do have to be kept strictly
separate from the Solicitor's business accounts), over the limit they had
to.


Still the banks pull the same scam on cheque clearance. Three days
on reconciliation between UK accounts? Yeah right.
I might believe 3 seconds. Just.



Even a day I could cope with as cheque clearance and BACS processing is AAUI
a daily batch process. Three is taking the proverbial, and of course this
is just for the core clearing banks. Many outside this system take even
longer - I think it's Abbey that can take 6 days routinely.

--
Richard Sampson

mail me at
richard at olifant d-ot co do-t uk

"RichardS" wrote
| Even a day I could cope with as cheque clearance and BACS processing
| is AAUI a daily batch process. Three is taking the proverbial, and
| of course this is just for the core clearing banks.

Bank of Scotland take 5 days to clear English cheques. However many years
it's been since the Act of Union ...

| Many outside this system take even longer - I think it's Abbey
| that can take 6 days routinely.

Just wait till Santander take over.[1]

Owain

[1] And if you are an Abbey shareholder you will receive Santander shares
and have to complete a Spanish tax return.

In article , Rick Dipper
writes
On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

Rick

My online bank won't let me transfer more than GBP 2000 per day to a
third-party account, even if it's mine (at another bank).
--
Peter

Ying tong iddle-i po!

In article , Peter Ramm
writes
On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Something similar happened at a company I once worked at (before I
worked there). Woman in the accounts department opened a bank account
with the same name as that of the company and paid several cheques in
before she was caught. Probably not all that uncommon a trick.
--
Peter

Ying tong iddle-i po!

In article , Huge wrote:
And stop shopping at PC World. They're worse robbers than the
Chancellor.

Sometimes yes, sometimes no. When they first opened they really were
a rip-off place - like RRP £499, our price £399 - save £100. Pity
that most of their customers knew that the going rate was £249. Now
on many things they can be very competitive especially when you
factor in P&P on mail orders - but you have to be selective: like
supermarkets they hope you'll buy the offer of the week *and*
several other less than cheap things while you're there.

And as the Isleworth branch is 3 miles from home I can go there, buy
something and be home within the hour - much better than waiting for
non delivered mail orders.

--
Tony Bryer SDA UK 'Software to build on' http://www.sda.co.uk
Free SEDBUK boiler database browser http://www.sda.co.uk/qsedbuk.htm

raden wrote in message ...

... And is there anybody who hasn't noticed that Safeway and Homebase
charge 2.5% for credit card payments now - for CC administration. How
much do they pay on transactions, 1% ?

I think its much mo 5% is common for smaller businesses, so 2.5%
sounds probably about right for large ones. Most businesses eat the
cost, you dont pay more.

NT

"Peter Twydell" wrote
| Something similar happened at a company I once worked at
| (before I worked there). Woman in the accounts department
| opened a bank account with the same name as that of the
| company and paid several cheques in before she was caught.
| Probably not all that uncommon a trick.

I expect BT get lots of cheques payable to "BT " without the space
ruled through, which makes them very vulnerable to minor amendment and
paying into an account in the name of B Timms or whatever.

Owain

Andy Hall wrote in message . ..
On Sat, 23 Oct 2004 23:58:33 +0100, Richard Faulkner
wrote:

In message , MM
writes
How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

Generally by cheque unless you specify bank transfer, or some other
method. (Cheque means the money stays in the solicitors account for
longer)


...and the interest paid to the client?? No, I thought not. A few
days interest on a few hundred grand across a few hundred customers a
year is a nice earner.

Still the banks pull the same scam on cheque clearance. Three days
on reconciliation between UK accounts?

That's nothing: In Norway (in 1985 anyway) the paying bank removed the
money from your account retrospectively using the date written on the
cheque rather than the date of presentation.

R

On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

On Sun, 24 Oct 2004 10:34:22 GMT, Rick Dipper
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

This would not be going to a Swiss bank account, but to my High Street
clearing bank branch.

MM

On Mon, 25 Oct 2004 07:45:42 GMT, Peter Twydell
wrote:

In article , Rick Dipper
writes
On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

Rick

My online bank won't let me transfer more than GBP 2000 per day to a
third-party account, even if it's mine (at another bank).

But a residual payment from the sale of a house could be tens of
thousands of pounds, or even more. Are you saying there is no way to
transfer it from the solicitor's client account because it is a large
amount?

MM

On Mon, 25 Oct 2004 17:10:58 +0100, MM wrote:

On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

Give the solicitor the sort code of Nationwide plus your account
number and ask the to do a direct transfer - BACS if you don't mind it
disappearing for a couple of days or CHAPS for same day.

You might want to look around for other short term money homes which
pay a better interest rate. 1% more on (£180k was it?) for a couple
of months is a few more hundred quid for you....

..andy

To email, substitute .nospam with .gl

On Mon, 25 Oct 2004 17:10:58 +0100, MM wrote:


My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?


Definately an interbank transfer. Provided you check and double check your
account details and hand them in writing to your solicitor it's safe.

If he transfers the money to the cat's home, it's his fault...

It's certainly been the standard method whenever I've bought/sold houses.

Tim

On Mon, 25 Oct 2004 17:11:03 +0100, MM wrote:

On Mon, 25 Oct 2004 07:45:42 GMT, Peter Twydell
wrote:

In article , Rick Dipper
writes
On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

Rick

My online bank won't let me transfer more than GBP 2000 per day to a
third-party account, even if it's mine (at another bank).

But a residual payment from the sale of a house could be tens of
thousands of pounds, or even more. Are you saying there is no way to
transfer it from the solicitor's client account because it is a large
amount?

MM
Richard's talking about online banking. The limits are there with
that to make money laundering difficult.

It's not an issue when you are a known client on transactions like
this. The solicitor can quite easily transfer hundreds of thousands
to your account on a fast CHAPS transfer if you want. You pay about
£20 for that.

One other point is that if you were planning to have liquid money for
a long time before making a purchase, it would be prudent to check
into the level of indemnity provided for an account and carve it up
into separate accounts of no more than (e.g.) £25k at different banks
or building societies.

It's unlikely that this would happen, of course, but on a large amount
which is so critical it makes sense to be prudent.





..andy

To email, substitute .nospam with .gl

In article , MM
writes
On Mon, 25 Oct 2004 07:45:42 GMT, Peter Twydell
wrote:

In article , Rick Dipper
writes
On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

Rick

My online bank won't let me transfer more than GBP 2000 per day to a
third-party account, even if it's mine (at another bank).

But a residual payment from the sale of a house could be tens of
thousands of pounds, or even more. Are you saying there is no way to
transfer it from the solicitor's client account because it is a large
amount?

MM

Not on line. I don't know if certain people have exemptions to the 2k
rule. Depends on who the bank thinks is trustworthy. You can go to the
bank in person and do it by CHAPS if it's urgent and waiting for a
cheque to be cleared is unacceptable. Probably need gawd knows what in
the way of ID, though.
--
Peter

Ying tong iddle-i po!

"MM" wrote
| Well, I was planning - if I were to decide on the cheque method
| - to take the cheque in my hot little hands, cross the High
| Street to the Nationwide and pay it in, beating off muggers
| and other ne-er-do-wells in the process.

The solicitor will probably not give you a cheque in your hot little hands.
He will want to post it out to you, along with a covering letter for which
you can be billed :-)

Owain

On Mon, 25 Oct 2004 17:19:00 +0100, Andy Hall
wrote:

On Mon, 25 Oct 2004 17:10:58 +0100, MM wrote:

On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

Give the solicitor the sort code of Nationwide plus your account
number and ask the to do a direct transfer - BACS if you don't mind it
disappearing for a couple of days or CHAPS for same day.

You might want to look around for other short term money homes which
pay a better interest rate. 1% more on (£180k was it?) for a couple
of months is a few more hundred quid for you....

Nationwide is only a safe haven for the first few days while I catch
my breath.

MM

On Mon, 25 Oct 2004 17:33:41 +0100, Andy Hall
wrote:

On Mon, 25 Oct 2004 17:11:03 +0100, MM wrote:

On Mon, 25 Oct 2004 07:45:42 GMT, Peter Twydell
wrote:

In article , Rick Dipper
writes
On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

It depends on your solicitor, most shy away from transfers to swiss
bank accounts.

Rick

My online bank won't let me transfer more than GBP 2000 per day to a
third-party account, even if it's mine (at another bank).

But a residual payment from the sale of a house could be tens of
thousands of pounds, or even more. Are you saying there is no way to
transfer it from the solicitor's client account because it is a large
amount?

MM
Richard's talking about online banking. The limits are there with
that to make money laundering difficult.

It's not an issue when you are a known client on transactions like
this. The solicitor can quite easily transfer hundreds of thousands
to your account on a fast CHAPS transfer if you want. You pay about
£20 for that.

If 20 quid will buy me peace of mind, it's well worth it. I'm not
going to quibble about £20 as a one-off, since I will definitely not
be selling/buying houses any time soon, once this one goes through. I
cannot put myself through this again.

MM

On Mon, 25 Oct 2004 17:10:58 +0100, MM wrote:

On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

Hi,

See:

http://news.bbc.co.uk/1/hi/programme...ox/3727888.stm

Looks like CHAPS is safest.

cheers,
Pete.

"MM" wrote in message
...
On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

Mike,

take a deep breath and chill a little over it - I realise that it's a huge
sum of money and represents your future financial security, but it's a
routine transaction & its played out hundreds of times every week over the
lenght and breadth of the country.

Your solicitor ought to be advising you on this stuff, and if they don't
your bank manager will probably be falling over him/herself to advise you on
the safest and fastest route to get all of they money into your account in
their bank...

If I were you, I'd go CHAPS. Anything else is insecure (potentially) and
adds a couple of days delay, which is madness.

Oh, and with appropriate prior arrangement, you can generally transfer ANY
amount of money (how do you think that big companies get bought/sold?).



--
Richard Sampson

mail me at
richard at olifant d-ot co do-t uk

On Mon, 25 Oct 2004 17:58:22 +0100, "Owain"
wrote:

"MM" wrote
| Well, I was planning - if I were to decide on the cheque method
| - to take the cheque in my hot little hands, cross the High
| Street to the Nationwide and pay it in, beating off muggers
| and other ne-er-do-wells in the process.

The solicitor will probably not give you a cheque in your hot little hands.
He will want to post it out to you, along with a covering letter for which
you can be billed :-)

Okay, CHAPS it is, then!

MM

On Mon, 25 Oct 2004 22:22:18 +0100, "RichardS" noone@invalid wrote:

"MM" wrote in message
.. .
On Sun, 24 Oct 2004 10:11:12 +0100, Peter Ramm
wrote:

On Sat, 23 Oct 2004 18:26:33 +0100, MM wrote:

How is the residual payment left over after completing a house sale
usually paid out? Cheque, or transfer to bank account?

MM

I would definitely have it as a transfer. I read over last couple of
months of someone who had sold their house and the money was sent as a
cheque. Unfortunately, the cheque was "intercepted" - a bank account
in the name of the beneficiary opened and the money disappeared.
(I've Googled for it and checked archives but can't find original
article)

Well, I was planning - if I were to decide on the cheque method - to
take the cheque in my hot little hands, cross the High Street to the
Nationwide and pay it in, beating off muggers and other ne-er-do-wells
in the process.

My real question is, which is the absolute SAFEST method available to
guarantee* that the payment reaches my account?

* Yes, I know NOthing in life is guaranteed 100%, but let's say, as
near as dammit!

MM

Mike,

take a deep breath and chill a little over it - I realise that it's a huge
sum of money and represents your future financial security, but it's a
routine transaction & its played out hundreds of times every week over the
lenght and breadth of the country.

Your solicitor ought to be advising you on this stuff, and if they don't
your bank manager will probably be falling over him/herself to advise you on
the safest and fastest route to get all of they money into your account in
their bank...

If I were you, I'd go CHAPS. Anything else is insecure (potentially) and
adds a couple of days delay, which is madness.

Oh, and with appropriate prior arrangement, you can generally transfer ANY
amount of money (how do you think that big companies get bought/sold?).

Yes, I have decided that CHAPS will be the preferred method.

MM

"MM" wrote in message
...
On Mon, 25 Oct 2004 22:22:18 +0100, "RichardS" noone@invalid wrote:

snip


If I were you, I'd go CHAPS. Anything else is insecure (potentially)
and
adds a couple of days delay, which is madness.

Oh, and with appropriate prior arrangement, you can generally transfer
ANY
amount of money (how do you think that big companies get bought/sold?).

Yes, I have decided that CHAPS will be the preferred method.

MM

Glad to hear it. Don't sweat, you'll be fine.

The fun starts when the bank manager starts being really nice to you....



--
Richard Sampson

mail me at
richard at olifant d-ot co do-t uk

On Tue, 26 Oct 2004 00:03:51 +0100, "RichardS" noone@invalid wrote:


"MM" wrote in message
.. .
On Mon, 25 Oct 2004 22:22:18 +0100, "RichardS" noone@invalid wrote:

snip


If I were you, I'd go CHAPS. Anything else is insecure (potentially)
and
adds a couple of days delay, which is madness.

Oh, and with appropriate prior arrangement, you can generally transfer
ANY
amount of money (how do you think that big companies get bought/sold?).

Yes, I have decided that CHAPS will be the preferred method.

MM

Glad to hear it. Don't sweat, you'll be fine.

The fun starts when the bank manager starts being really nice to you....

I sense an oxymoron is hidden in there somewhere.

MM

In message , MM
writes
On Mon, 25 Oct 2004 17:33:41 +0100, Andy Hall
wrote:

account on a fast CHAPS transfer if you want. You pay about
£20 for that.

If 20 quid will buy me peace of mind, it's well worth it. I'm not
going to quibble about £20 as a one-off, since I will definitely not
be selling/buying houses any time soon, once this one goes through. I
cannot put myself through this again.

And GBP20 is nothing compared to all the other costs involved in house
buying/selling/moving
--
Chris French, Leeds