Owning your own home

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Tenderloin in reply to @aggi

If it's totally covered by the deposit coming up the chain then just that. If there is additional monies required to 'top up' then these are supplied by you.

sell 500k house = £50k
buy 1,000,000 = £100k

In this scenario you would need to supply £50k ahead of exchange to your solicitor

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aggi in reply to @Tenderloin

Cheers, that does indeed seem to be the case. Worryingly, no-one had mentioned that up until now so I need to rustle up £20k in the next couple of days!

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pifko in reply to @aggi

We had similar when, out of the blue, the seller was ready to exchange and so we rushed around withdrawing money from premium bonds (which isn't quick). Then the seller fucked around for another 3 months, all while the solicitors earnt interest on our £30k...

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