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Risk a Halifax CHAPS payment for completion?
Michelle_Louise
Posts: 35 Forumite
Hi
I'm after some advice. I'm a first time buyer with very little knowledge of how the system works other than what I've read of here etc and have been very nervously excited throughout the whole thing. I was told last week that the vendor wanted exchange no later than the 7th (this fri) but me being me I heard completion the the 7th not exchange so I'd had it all mentally ready and also got some wheels in motion. Anyway long story short I'm in a position to have my solicitor request the funds tomorrow and exchange but Halifax have requested 5 working days notice. I've been on their website and they offer a CHAPS payment for £20 to get it to sols same day. Which I'm more than happy to pay! My solicitor has advised against trying for Friday but would do it if i wanted. There could be interest implications and fine involved for late completion should something go wrong. I get that but I REALLY want it to be Friday and if this CHAPS is possible is it not worth a try??
I'm after some advice. I'm a first time buyer with very little knowledge of how the system works other than what I've read of here etc and have been very nervously excited throughout the whole thing. I was told last week that the vendor wanted exchange no later than the 7th (this fri) but me being me I heard completion the the 7th not exchange so I'd had it all mentally ready and also got some wheels in motion. Anyway long story short I'm in a position to have my solicitor request the funds tomorrow and exchange but Halifax have requested 5 working days notice. I've been on their website and they offer a CHAPS payment for £20 to get it to sols same day. Which I'm more than happy to pay! My solicitor has advised against trying for Friday but would do it if i wanted. There could be interest implications and fine involved for late completion should something go wrong. I get that but I REALLY want it to be Friday and if this CHAPS is possible is it not worth a try??
0
Comments
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Hello,
So you're wanting to complete this Friday?
If your solicitor submits the Certificate of Title (request for funds) to your lender tomorrow and then calls to confirm release of funds, spesks to the right person and possibly applies some persuasive words Halifax will be able to get the funds in time.
As you say, they will charge a chaps fee, but I'd have thought theyd confirm funds and get you ready for completion!0 -
So when are you exchanging and when are you agreeing to complete?
My advice would be dont try and force something different here. If thy need fivevdays let them have it.
If you agree a completion date and you can't complete then you are opening yourself up to a whole world of pain and cost.0 -
Was hoping to complete on Friday, exchange tomorrow all being well. I know it opens me up to a lot of risks and unwanted fees etc but surely how hard is it for a CHAPS request to be sent tomorrow an sols have the funds Thursday. Surely that's what Halifax have it in place for?0
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The CHAPSpayment does not take 5 days. But Halifax internal processes may!
* Receive cash request
* Place in 'intray'
* check it
* pass tosupervisor
*place in 'intray'
* check it & authorise
* Pass to Finance Dept
* Place in 'intray'
* blah blay blah.....!0
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