We move house on 26/07/13 ie We hand over keys to our buyers, and get keys to new house.
We were told we had to maintain a 10% equity stake (deposit) in the new place (165K home), and as like many couples we've lost a lot of equity in our first house bought in 2008.
My question is about the manner in which the monies are transfered because things are very tight.
We have saved 8K, and we wll add to this my wifes next 3 pays, the later of which is the day before entry! That will take us u to £13.5K. We get approx 3K from the sale of our house which basically takes us then up to the 16.5K mark... which is the exact deposit for the new house!!!
(Ive removed fees to keep it simple).
Im just concerned that the transaction will bounce because its so tight. But on the day of the move we will have the deposit for the new place. Is this normal?
I dont want to ask my parents for money, even if it is for 24 hours...
Oh and I then get paid a few days later anyway!
We were told we had to maintain a 10% equity stake (deposit) in the new place (165K home), and as like many couples we've lost a lot of equity in our first house bought in 2008.
My question is about the manner in which the monies are transfered because things are very tight.
We have saved 8K, and we wll add to this my wifes next 3 pays, the later of which is the day before entry! That will take us u to £13.5K. We get approx 3K from the sale of our house which basically takes us then up to the 16.5K mark... which is the exact deposit for the new house!!!
(Ive removed fees to keep it simple).
Im just concerned that the transaction will bounce because its so tight. But on the day of the move we will have the deposit for the new place. Is this normal?
I dont want to ask my parents for money, even if it is for 24 hours...
Oh and I then get paid a few days later anyway!