Moving on last Friday of the month

booboomania

We are looking at moving into our new house on the last Friday of July, and our estate agent said to avoid the last friday of the month because the banks would be busy and it would be a slow transaction and may not happen on that day.... Is there any truth in this?!!

SnowBelle_2

Hi,
I would check with your solicitor they will know how quickly it's likely to take.
My EA kept saying we had to move on a Friday,but when I checked with my solicitor she said we could move any day...Friday was just like the traditional day to get things done at close of business for the banks.
We eventually moved on a Wednesday.

BitterAndTwisted

EAs know naff-all about conveyancing and the only advice I would accept would be from a qualified professional.

Doozergirl

It will be a busier day. I wouldn't avoid it for that specific reason though.

We've never been affected by bank transfers failing ever, let alone 'busy' days, and we've bought and sold a fair few times.

Removals companies are cheaper usually on weekdays, I prefer being able to move simply when it's ready, but then it might depend on your life and holiday times etc. It's a bit of an arbitrary aim 'the end of the month'. We're selling two now and one buyer wants 'end of June' and the other one reckons it's not worth moving at all if it isn't by the 'end of July'. Which is just stupid. It doesn't bother me in the slightest, we're not selling with chain above so it's their own solicitor/mortgage problems to deal with to get to deadline.

SuzieSue

We moved on Friday the 13th because it was even cheaper than a weekday.

Richard_Webster

It will be a busier day. I wouldn't avoid it for that specific reason though.

We've never been affected by bank transfers failing ever, let alone 'busy' days, and we've bought and sold a fair few times.

Removals companies are cheaper usually on weekdays, I prefer being able to move simply when it's ready, but then it might depend on your life and holiday times etc. It's a bit of an arbitrary aim 'the end of the month'. We're selling two now and one buyer wants 'end of June' and the other one reckons it's not worth moving at all if it isn't by the 'end of July'. Which is just stupid. It doesn't bother me in the slightest, we're not selling with chain above so it's their own solicitor/mortgage problems to deal with to get to deadline.

I agree. Busier but not usually so busy as to cause the bank systems to crash. When the market is moving fast and solicitors are very busy then the position is worse but even then I would only be concerned about the last Friday before Christmas and Maundy Thursday.