Last minute delay for completion nightmare

[wishIwasonholiday10]

We are supposed to be completing today but our lawyers IT system is completely down and they have been unable to transfer the money. Has anyone experienced something similar and what happened next? Our sellers just rung us panicking as they have had all their stuff packed up and we have loads to deliveries booked to the new house tomorrow (whiteware, furniture etc). We are bottom of the chain - will be liable for everyone’s costs even if it’s our lawyers fault?

We are with TR too. It would appear that some firm’s have better IT systems and have found workarounds, but TR haven’t. No exchanges or completions until after the new year would be absolutely devastating.

@alicefenton88 which branch of TR are you with? I'm not with them, but my vendor is and they are the middle of our chain of 5

We’re based in London but the team are in Peterborough I believe. Our main contact is Shimmee Wong. I’ve just left them a voicemail and asked them to call back for an updated.

Which company is that?

Any news on O P

Taylor Rose. We are now exploring changing conveyancer as our mortgage offer expires on 11/12. We’re not sure if it’s doable but she is asking the question, it might be worth others doing the same if you’re yet to exchange but have a deadline.

Good luck all.

Is this affecting sales in Scotland, does anyone know?

We have progress too. ONP finally managed to transfer the funds for our completion late this afternoon so we might just escape from being made homeless. Not sure if we will be able to reschedule movers and deliveries in time though so still pretty stressed.

@wishIwasonholiday10 great news for you. Fingers crossed 🤞

Really glad to hear it @wishIwasonholiday10! When is your new completion date?

We don’t know yet. Everything went through late today so we haven’t heard from the other side yet.

We are Taylor rose and they are trying to do ours manually .i think.

@Haggisfish3 thats interesting. Let me know how that goes and which Branch of Taylor rose. Good luck

I’m so glad you’ve got there!

congratulations!

Yes I’d be keen to hear more on this - who were you in touch with at TR?

Sorry to ask OP but I know you are also with ONP! Did your solicitor transfer funds to your buyers/ sellers solicitor? I was told today they can’t progress my completion because they don’t know if monies will be successfully transferred across? Just hoping your update is a glimmer of hope for everyone else and that things are working again @wishIwasonholiday10

Hi I am with Setfords, due to exchange last Friday to complete Wednesday 6th December, and it got halted at the final minute. Since then they have been updating but are only able to say the systems might be back
up in days rather than weeks ….. seem to be given a choice to wait and change dates ( possibly lose the chain) or go for the risk option of trying to exchange and complete on the same day - so no safety of having exchanged and hope it all goes through which seems like as much of a nightmare

my big question is around compensation at this point -! You had any news ?

Has there been any comment from the SRA?

@EmmaEmerald nope

nothing at all - no update from CTS since Friday

my mate who works in cyber reckons this is also why HSBC lost service as well

think it’s rather a large issue to resolve ☹️

We were also going to exchange Thursday/Friday - complete 1st December
we made the choice to change to 8th for completion with hope they would be back up and running this week to get exchange in
but still not as it stands.
Had the same once that they think days rather than weeks but we’re at a week already by tomorrow

Oh dear @CBcats

SRA should be all over this and should have been before "everything" went online.

@ELS014 so sorry, it really seriously stressful isn’t it ?

my solictors suggested today as an option that we still aim for the 6th and go for a simultaneous exchange and completion on the day - so no protection of having exchanged in advance - they tried to explain it to me but I still don’t underhand how that can be possible if the systems aren’t up and running . I think we transfer funds to them and once they have landed it can be done but sounds like I am risking everything ( as well as the rest of the chain ) as if it’s falls through no one is liable for the costs and we are packed into vans for no reason ?

waaaahhhhh ….

I contacted them today …. I think it’s so big they are all being Uber careful about any comms to avoid any claims that will inevitably be stacking up ?

We are with Setfords as well and apart from very unreasoning message of “hopefully this will be fixed within days not weeks” we haven’t been given any other information which is outrageous. I have emailed their MD directly as well as nobody is able to clarify what kind of compensation they might offer if everything falls apart due to the system collapsing and he is not responding. We are looking to switch to a new solicitor at this stage as I am given zero reassurance at this stage. We were due to exchange last Friday also

does anyone understand how the compensation my work if Setfords are unable to execute exchange / completion or if we lose a buyer / seller due to these delays

We have exchanged and can’t meet our completion date due to our buyers solicitor not being able to access their systems.

I’ve been told “unofficially” that unless the rest of the chain sue and it comes downwards, there’s not much to gain from from trying to reclaim costs as it will cost more to sue than I’ll gain. I don’t know how true this is and for now I haven’t looked into it any further.

You’re probably better off not exchanging and moving to another solicitor I think, because we’re now trapped in limbo without the option to move.