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Bad news for house buyers

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Moving house can be stressful we all know that but the "Bank of England' in there wisdom have decided that 'Chaps' ( the system that transfers large amounts of money for house sales) will now go up to 6pm.

Which basically means when you sell your house the money may not be transferred until 6pm so you might not get your keys until 6 to 6.30.

Yet another headache for home buyers!

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But- if it's so- it may well assist in ensuring that solicitors have enough time to send/receive the sums involved.

AND the BoE change won't affect the usual '2.00pm' completion deadline in most sale contracts.

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Although it doesn't happen often as the amount of mortgages going through is so much less than pre 2007 even now it can sometimes still be 4pm.

Mainly because of solicitors wanting everyone to move on the last Friday of the month.

Making it go up to 6pm is only gonna make it worse both for the removal staff who will have to work later and for the customer who won't be able to start unpacking until 9pm.

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Mainly because of solicitors wanting everyone to move on the last Friday of the month.

No- quite the reverse!

It's clients who often want to complete on Fridays, esp. just before a Bank Holiday weekend.

But nothing to do with the end of a month.

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