CHAPS payment delayed due to security check- Completion today!

[Postapocalypticcowgirl]

So, you guys were very kind in talking me down after issues around exchange. That all went through fine last week in the end.

Now due to complete today- CHAPS payment between the two solicitors has been selected for a random security check.

Does anyone have any experience of this? How long did it take to get resolved?

My solicitors have apparently never experienced this before, and can't offer much advice. Estate agents not sure either.

What happens if we can't complete today due to the security checks? Solicitors are very reluctant to discuss this with me, keep telling me everything will be fine.

At this stage I've spoken to my landlord (I'm essentially a lodger in legal terms) and arranged to stay on for a few more days, and I've rescheduled my removals for later in the week, as I've missed my slot with them (was supposed to have keys until 12). But I'm stressing that I could face financial penalties if completion does not go through.

Okay, so it has gone through and I have completed, but due to the delays, it seems like I may not be able to get the keys to my new property today- surely that can't be right? If we've completed, shouldn't I get vacant possession tonight?

Yes definitely, it is now your property and your responsibility as well.

Yes. You need to have the keys as you’re now responsible for it. Your insurance won’t cover you if you haven’t actually taken possession.

Where do you get that from ? Is there an internet link ?

Reason being is that I thought you had to insure a house from the point of exchange, so the idea that you are not covered if you do not receive the keys on completion date sounds a bit off.

The OP says she can’t get vacant possession tonight, so I assumed the sellers were having to stay in the house until tomorrow. After completion, they shouldn’t be there. Insurance isn’t going to pay out if the fuck anything up.

The point is that you're responsible for it by then and you need to make sure it's in good condition so your insurance is valid.

We had delays getting keys and finally got them about four hours after completion. That meant we couldn't get there immediately to check so I went over that evening - good thing I did the idiot vendor had left house unlocked, windows open, including velux ones in a loft. The house wasn't secure and if it had rained there would have been water damage.

Yes, you should get vacant possession today BUT given you'd decided it wouldn't complete today, do you think the people above you are also running late?
We collected our keys as the estate agent shut - and the vendors were still loading the last van when we arrived at 6pm. Could you arrange for one set of keys to be st the estate agents before closing, and the rest of the keys to be put through the letterbox, so you can gain access at 9am tomorrow?
Or collect keys directly from the vendor at, say 6pm tonight?

@GasPanic I think the issue is less whether you've actually collected the keys than if the previous owners are still living in the house. I don't think insurers would pay out if they caused any damage

Sympathies @Postapocalypticcowgirl, sounds dreadful (and yet another way in which house move plans can go wrong!)

Yes you now own the house so you should get the keys today. You need to make sure the vendors are out of the house.

congrats!

go to your new house and don't worry about the keys.
if the former owners are there they can give you the keys. if not, call a locksmith - it's best to change the barrel anyway.

What may have happened is your money has gone through but due to the delays, the chain can't complete as everyone's money has to go through so everyone in the chain can move.

This happened to us once and we weren't able to move into the new house until the following morning. It was a bizarre situation. You need to check with your solicitor exactly what is happening.

Hey, sorry for not updating sooner- I got on to my solicitors and managed to get the keys at 5pm- they weren't happy with me not having them either.

The whole thing was a complete mess all day (to be honest it's been a bit of a mess all week) but finally have the keys, and now should be able to actually move in in a few days.

Really appreciate all the responses!

Glad you got the keys, congratulations! Isn’t house buying an utterly ridiculous process in this country!

BTW, I do have a lot of sympathy with my sellers and anyone further up the chain, I'm aware the delay may have caused all sorts of issues. The delay was between solicitors though, and literally nothing I could do about it.

I'm lucky that I've been able to stay on an additional few days where I'm currently living- if I hadn't been able to do that, then I would have been incredibly stuck tonight and I've no idea what would have happened to my stuff.

The whole thing was absolutely horrendous!

Yay! Congratulations!

It's insane it could go so wrong at the 11th hour, and it wouldn't have just been for me, but for the sellers and their sellers too presumably!

I feel like I could have easily been left without anywhere to sleep tonight, and I'm sure the bank wouldn't have cared. I understand the need for security checks when people are moving large amounts of money, but also there surely needs to be some understanding from banks that holding up a whole chain of people buying and selling could cause people to be effectively homeless?

Anyway, I'm so relieved it's all sorted, and surely now nothing else can go wrong?

Thank you!

You may not have been the only one

Oh my goodness, so the whole system failed today!

I just came on to post the news article but saw a PP had beaten me to it.

I complete in a couple of days and this kind of shit is sending me west!

Glad you got sorted.