Completion and CHAPS Transfer

[Woollyback60]

We exchanged contracts yesterday and are due to complete this coming Friday.

There are five of us in the chain and my property is at the top of it so it's my understanding I'll be last to receive funds which I believe are transferred by my solicitor using CHAPS.

Can anyone experience with using this method tell me how long the transfer takes to show in my account please?

I believe CHAPS payments are instant.

Each CHAPS transfer can take up to 2 hours to appear after being sent (as far I understand it anyway). When we moved last year we were No3 in a chain of 4. Our buyers funds reached our solicitor at around 11.30am, and for our onward purchase it was just after 1.30pm when the funds were received and the keys released to us. If you're number 5 I would guess it will be maybe 4 or 5pm before the money gets to you?