New Direct Purchase UK

[Rockenroller]

Hi,

I am buying my first DVC contract early next week and I am looking for any advice as a buyer from the U.K.

I am not financing it so able to complete the purchase for the U.K.

Am I correct that I need to pay 10% straight away then the paperwork is then sent?

How long is it until the remainder is collected?

I would prefer to use a credit card to initially pay it but will need to use two cards due to the amounts involved, is this ok?

Is there any tips for paying dues like US bank account or Paypal, credit card etc?

Any help appreciated.

 

[Sandisw]

Disney will work with you in terms of charging the purchase. When I bought years ago, I asked them to hold off the second half of the contract until I hit my next billing cycle...about 2 weeks later..to give me the extra month on my Disney Visa.

I can’t help with the other part.

 

[Helaman]

All can be paid with a card. 10% is required as a down payment, the rest at closing. Dues can also be paid by card. I paid everything earlier while the exchange rate was good.

Be sure to have Disney make your first reservation at closing, so you do not have to wait 11 months for your first vacation due to low room availability.

 

[Wakey]

Hi,

I am buying my first DVC contract early next week and I am looking for any advice as a buyer from the U.K.

I am not financing it so able to complete the purchase for the U.K.

Am I correct that I need to pay 10% straight away then the paperwork is then sent?

How long is it until the remainder is collected?

I would prefer to use a credit card to initially pay it but will need to use two cards due to the amounts involved, is this ok?

Is there any tips for paying dues like US bank account or Paypal, credit card etc?

Any help appreciated.

I have bought 3 resale contracts from the UK, so feel free to pm with any questions.

I am assuming this is a resale contract.

10 % initially- put that on credit card, there will be a fee probably for doing so, usually about $45 charged by the title company. If you have one, use a no foreign transaction fee credit card such as Post Office or Halifax.

Balance is due on closing. Basically this will be about 4 weeks after first signing the contract. This must be done by money transfer. They will not accept credit cards on this.

I highly recommend HiFx (XE now) for this in the UK. Excellent service and reliable. Much better than your bank rate. Feel free to pm me for a code for a free Amazon voucher if you use that. I have used it on all 3. There are other services but some people have had real issues with them failing to get the money over so I’d stick with HiFX / XE.

As to paying dues the only way to pay monthly in arrears is to get a US bank account. That’s total overkill really, you can pay monthly or any other way you want in advance on credit card. I prefer to be ahead rather than always paying last years dues so I prefer this. Again make sure you have that Halifax if PO card.


EDIT JUST SEEN THE TITLE IS BUYING DIRECT, SO I WILL LEAVE THE ABOVE FOR INFO:

If you are saying you are buying direct, forget the above as you can buy on credit card. You basically get the docs sent over by courier and have to return by courier (paid for by DVD). When buying resale it is all done via email.

If you are buying direct and have not done so research buying resale, and research Riviera restrictions and how that could hit you in the pocket.

 

[Rockenroller]

I have bought 3 resale contracts from the UK, so feel free to pm with any questions.

I am assuming this is a resale contract.

10 % initially- put that on credit card, there will be a fee probably for doing so, usually about $45 charged by the title company. If you have one, use a no foreign transaction fee credit card such as Post Office or Halifax.

Balance is due on closing. Basically this will be about 4 weeks after first signing the contract. This must be done by money transfer. They will not accept credit cards on this.

I highly recommend HiFx (XE now) for this in the UK. Excellent service and reliable. Much better than your bank rate. Feel free to pm me for a code for a free Amazon voucher if you use that. I have used it on all 3. There are other services but some people have had real issues with them failing to get the money over so I’d stick with HiFX / XE.

As to paying dues the only way to pay monthly in arrears is to get a US bank account. That’s total overkill really, you can pay monthly or any other way you want in advance on credit card. I prefer to be ahead rather than always paying last years dues so I prefer this. Again make sure you have that Halifax if PO card.


EDIT JUST SEEN THE TITLE IS BUYING DIRECT, SO I WILL LEAVE THE ABOVE FOR INFO:

If you are saying you are buying direct, forget the above as you can buy on credit card. You basically get the docs sent over by courier and have to return by courier (paid for by DVD). When buying resale it is all done via email.

If you are buying direct and have not done so research buying resale, and research Riviera restrictions and how that could hit you in the pocket.

thanks for the info. Bought 2x 100 point contracts for OKW

 

[Rockenroller]

thanks for the info. Bought 2x 100 point contracts for OKW

purchased direct just before the increases the other week

 

[AnnaS]

If your cards/billing/bank works similar to ours here in the US, you can use one credit card if you want/don't want to open another one. They can charge whatever your max is. As soon as the charge/amount is posted to your account (I check on-line), usually pending right away and posts about a day or two later. I then go to the bank/or transfer - however you pay your credit card - and make that payment. I then call my guide and tell him to charge the balance. No need to wait for the billing cycle/bill to come/wasting time.

I was going to suggest breaking up your contract, but I see you have already done this.

Congratulations!

 

[carli_h]

We bought in May from the UK and weren’t required to put a deposit. I think you do when you’re in the US but no payment was taken from us until we cleared the cessation period which is 14 days from Disney receiving the paperwork back. If you’re in the US I believe the cessation period is shorter.

We used a few credit cards to pay over a week with good exchange rates, no fees and cash back. There really was no hurry in the payment. They was clear we could have taken longer to pay if we wanted.

We used Tandem and Barclaycard credit cards.

 

[Dianeruth]

I have bought 3 resale contracts from the UK, so feel free to pm with any questions.

I am assuming this is a resale contract.

10 % initially- put that on credit card, there will be a fee probably for doing so, usually about $45 charged by the title company. If you have one, use a no foreign transaction fee credit card such as Post Office or Halifax.

Balance is due on closing. Basically this will be about 4 weeks after first signing the contract. This must be done by money transfer. They will not accept credit cards on this.

I highly recommend HiFx (XE now) for this in the UK. Excellent service and reliable. Much better than your bank rate. Feel free to pm me for a code for a free Amazon voucher if you use that. I have used it on all 3. There are other services but some people have had real issues with them failing to get the money over so I’d stick with HiFX / XE.

As to paying dues the only way to pay monthly in arrears is to get a US bank account. That’s total overkill really, you can pay monthly or any other way you want in advance on credit card. I prefer to be ahead rather than always paying last years dues so I prefer this. Again make sure you have that Halifax if PO card.


EDIT JUST SEEN THE TITLE IS BUYING DIRECT, SO I WILL LEAVE THE ABOVE FOR INFO:

If you are saying you are buying direct, forget the above as you can buy on credit card. You basically get the docs sent over by courier and have to return by courier (paid for by DVD). When buying resale it is all done via email.

If you are buying direct and have not done so research buying resale, and research Riviera restrictions and how that could hit you in the pocket.

 

[Dianeruth]

Thanks for this information ..I’m looking at buying resale later in the year. I’m from the uk .. Could you send me that link for XE please ? I have a nationwide select credit card with no fees so would I still have fees to pay on the deposit ? Is it possible to do a bank transfer for the balance ? Thanks for your help with this . Diane

 

[Rockenroller]

I also have a nationwide select credit card and when I used it to pay the deposit there was no transaction fee applied. Worth double checking on the CC statement to see if they have changed that. I bought direct last year and currently going through ROFR on a resale contract just now. I am also financing, planning to clear next year and was recommended to use Transferwise to make the payments by the broker to pay finance company. It’s basically one bank account with U.K. sort code and also an American sort code so it’s kind of like having an account in the US that you can make payments from. I have not used it yet so can’t offer any recommendation but from what I have seen it looks good. It’s not able to do direct debits in the US yet but I believe that feature is coming.When I am next over in the US planning on opening a bank account with SunTrust.

 

[Rockenroller]

The title company may charge you a fee for using a credit card to pay the deposit. I am using mason title for this and paid $5000 deposit which is the maximum they will take for a deposit and they did not take a fee for this.

 

[Ruttangel]

I used Nationwide Clarity Card for deposit and to pay for dues, you get excellent bank rate and 6 weeks to pay