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Transferring Mortgage deposit to solicitor

  • 03-06-2022 10:03am
    Registered Users Posts: 47 Man with a plan


    I'm in the final stages of buying a house and I'm just wondering what is the normal way that people transfer the deposit to their solicitor ?

    For example as far as I know my bank has a limit of 5K or 10K that can be transferred per day so how does one go about transferring large amounts like 50k + in one transaction in one day ?

    Does anyone have any experience with this or is there a special form or something to fill out in the bank ?

    Thanks very much.


  • Registered Users Posts: 1,910 ✭✭✭ witchgirl26

    Honestly we just transferred it over the course of a few days. Limit of €10k a day in place so calculated backwards & numbered each payment. Solicitor confirmed listing of payments which added up to the deposit & happy days.

  • Registered Users Posts: 68,318 ✭✭✭✭ seamus

    If you call the phone banking and kick up a stink they can usually sort out big transfers. They'll tell you they can't, but they can.

    You could also transfer every day over a few days before the deadline. Bit of a pain, but less of an issue for your blood pressure.

  • Registered Users Posts: 3,465 ✭✭✭ brainboru1104

    Whatever bank you are with are terrible. I can transfer 100k...

  • Registered Users Posts: 1,169 ✭✭✭ Stanford

    You might be better advised to get a bank draft in favour of your Solicitor and retain a photo copy for your records

  • Registered Users Posts: 1,568 ✭✭✭ dennyk

    I transferred my deposit and other fees via a few online transfers, since I was limited to €20k a day online. However, if you are with a brick-and-mortar bank that has actual branches, you can usually transfer any amount at once if you actually go into your local branch to place the order. If you went with one of those online-only "banks", though, that's one of the downsides to those services, unfortunately; your only option will be to split the transfer across multiple days.

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  • Registered Users Posts: 2,697 ✭✭✭ StevenToast

    Go into the bank branch itself to transfer large amounts....

    "Don't piss down my back and tell me it's raining." - Fletcher

  • Administrators Posts: 51,450 Admin ✭✭✭✭✭ awec

    This is the answer OP.

    The limits are online only. In a branch they'll transfer whatever amount you want, you fill in a form and have to show ID.

  • Registered Users Posts: 97 ✭✭ MikeCairo78

    I did this very thing today. Mortgage thru PTSB bank with PTSB myself and had to go to branch in Dublin where I work, all done in a matter of minutes - 50cent charged for the swift transfer

  • Registered Users Posts: 47 Man with a plan

    Thanks for the answers everyone.

    I really appreciate it.

  • Registered Users Posts: 4,067 ✭✭✭ shanec1928

    Bank draft and then went and lodged it directly into solicitors bank account, that’s what we did this week. Solicitor confirmed they had received the money the next day.

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  • Registered Users Posts: 86 ✭✭ 1percent

    My trick was to agree 300k buy price, 10k to the agent as the booking deposit and my partner and I both sent 10k to the solicitor to make the 30k/10%.