There is concern throughout the removal industry that the Bank of England’s extension to the Clearing House Automated Payment System (CHAPS) will cause delays and additional costs for customers.
Over the summer the deadline for solicitors and bank staff to transfer the funds to complete property purchases is set to be extended from 5 pm to 6 pm.
While this sounds like a good idea in principle and more purchases will go through as planned, some customers will have to wait if payments are made at the last minute.
Del Grant, owner of Grants Removals and Storage, says “If we can’t pick up the keys early enough to give our staff enough time to unload and get home, the move may need to be completed the next day.
“Generally, we need to collect the keys by 2 pm as it can take three or four hours to unload the lorry and move everything into the house.
“If removal firms do not pick up the keys until 5 or even 6 pm they may not have enough time to complete the job that day. Meaning re-delivery the next day at an extra cost to the customer. This could potentially cause big problems if they are fully booked. ”
Removal industry concerns
If the CHAPS extension does go through, some senior figures in the industry expect staff will have to work longer hours and customers will have to pay more money.
Ian Studd, director-general of the British Association of Removers (BAR) told The Mover magazine: “It is difficult to understand how the changes can be positive, given that it’s likely that time of access into the new home will be pushed back even later into the day, with inevitable consequences on increasing cost, staff welfare and morale.
“The client could well be in the unreasonable position of having to either work late into the night to achieve some level of comfort in their new home or potentially need to fund a night’s accommodation in a hotel thus incurring yet more expense.”
You can read more about the reaction from the industry by clicking here.