Bank mess up on moving day-left homeless -and Ombudsman useless-warning to others..

Slithery

chalky_white_2 said:

From experience, I think OP’s parents sale was a sale of a holiday static caravan type thing, not the sale of land?

They call it a large 4 bedroom house in the OP.

jonnydeppiwish!

chalky_white_2 said:

From experience, I think OP’s parents sale was a sale of a holiday static caravan type thing, not the sale of land? So solicitors are not involved, despite the relatively high value, and it can complicate an actual purchase of land.

The op says their solicitor was asking for the money - took me a third read to find it 😆 

Section62

sidneyvic said:

Why post this a year later and it has so many holes in it I smell something very fishy......

By the time the dust has settled and a complaint has been made to the bank, and for the bank's complaints process to be exhausted before getting round to taking the complaint to the ombudsman, and for them to consider the complaint, it could easily take a year before getting a final result.

Of all the things you could have picked on, the OP posting this cautionary tale now (rather than whenever you think they should have done), isn't a fair criticism.

Chandler85

I'm surprised the Ombudsman only took a year to look into it and give a result, not surprised about the outcome.
I had a complaint with them over section 75, about £350 of goods, credit card refused to refund.  After 18 months, the ombudsman said my claim was valid and awarded me 15% of the value because I still had the faulty goods as the seller refused to take them back, so I was stuck storing them.
The current process seems to deliberately take so long that facts can be muddled and forgotten and any financial losses feel less.
It sounds like the OP's parents, might have for some reason used 2 sets of solicitors, one for sale, one for purchase.  So the sale solicitor sent the parents the money who then sent it to the purchase ones, then the CHAPS system was to slow for completion on the purchase.  If Lloyds were explicitly told to send the payment that day but didn't do it until the following day, I don't see why they wouldn't be liable for costs, though I agree with the ombudsman that time off work is a bit different, so I can see why they didn't award money for that.

user1977

Chandler85 said:

It sounds like the OP's parents, might have for some reason used 2 sets of solicitors, one for sale, one for purchase.  So the sale solicitor sent the parents the money who then sent it to the purchase ones, then the CHAPS system was to slow for completion on the purchase.

I think the purchase might have been the OP's rather than their parents'. But they could still have used the same solicitor (assuming there wasn't some argument about a conflict), and even if there were different solicitors in the sale, they could have sent the funds directly to the other solicitors rather than via mum. Either the OP has got the story wrong and/or they were overly optimistic about how many same-day transfers you can actually achieve within one business day.

donutandbeer

Using different solicitors shouldn’t be the problem, as their sale solicitor can just transfer the money to their purchase solicitor - we’ve recently done that, within a chain. 

eddddy

user1977 said:

I think the purchase might have been the OP's rather than their parents'. 

I think that could well explain the situation.  The parents sold their house, and the son/daughter needed the funds on the same day to buy a house.

I wouldn't be surprised if the 'banking activity' that day triggered a suspected money laundering alert or fraud alert (or maybe a potential coercion alert) - a very large amount of money was paid into an account, and within minutes there iwas an attempt to transfer it out again to another account.

That's exactly how fraudsters use a money mule's bank account to launder stolen money.

So the bank might have stopped the transfer, whilst they did a money laundering investigation. And they won't tell the account holder what's happening, to avoid tipping them off, in case they're involved.


 

sheramber

CHAPS was done on the day- as this was the day the buyer of my parents house paid the solicitor.

Which solicitor?  

aoleks

Always get the money 2-3 days in advance, those £20 extra interest (or hundreds for that matter) are peanuts compared to any stress you would go through, as you noticed.

Section62

aoleks said:

Always get the money 2-3 days in advance, those £20 extra interest (or hundreds for that matter) are peanuts compared to any stress you would go through, as you noticed.

Which doesn't really work when the money is the proceeds of a property sale that the buyer won't hand over until the day of completion.