Bank of England resolves payments issue that threatened home sales

Homebuyers and sellers faced an anxious wait for funds to clear on property transactions today due to issues hitting the Bank's CHAPS service.

Global map
(Image credit: Getty Images/MR.Cole_Photographer)

A global payments glitch that could have threatened property purchases and sales has been resolved.

The Bank of England warned earlier today that a global payments issue affecting its  CHAPS (Clearing House Automated Payments System) service could impact buyers and sellers completing on property transactions.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.