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Problems releasing funds from a Prudential Investment

1 reply

House2home21 · 06/05/2021 08:46

We’re in the final throes of selling our house to a ‘cash buyer’ he’s having trouble getting hold of it though.

He seems to be being led up all the garden paths, we now know it’s with the Prudential and that he made the request on 20th April. The shares are sold and have ‘settled’ and he was told last Weds they’d been released and he would have them by Fri.

Nothing appeared and on chasing on Tues he was told they were ‘awaiting manager sign off’. That that would happen that day (Tues) and they would be released Weds and he’d have them today. I posted on Money Saving expert and the consensus seems that these timescales are not recognisable. And that Pru are having major servicing issues at the moment and it could take weeks if not months - WTAH?!?

Does anyone have any recent experience? Are we being fed a load of tripe?

OP posts:
ChessieFL · 06/05/2021 15:47

There’s been articles in the Sunday Times for the last couple of weeks about people waiting weeks/months to get their pensions paid out. Prudential switched to a new IT system a few months ago and it’s caused chaos. So his story does sound reasonable.

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