The collapse has started or is it the shut down drill ??
Bank of England’s real time payment system is down — business live
Bank of England crash will have ‘cascading effect’ on house movers
The collapse of the Chaps system will have a knock-on effect on people trying to move house today, experts are warning.
Mark Hayward, managing director of the National Association of Estate Agents, fears a ‘cascade effect’, if payments due to be processed today are delayed until Tuesday.
This could mess up hiring a removals firm, or switching telephone, water, electricity and gas supplies.
“Whilst Monday is not the busiest day in terms of completions, the failure of the payments system for UK house purchases will have a cascading effect and it is likely any payments will now be held up for a day or more as money takes time to transfer…
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