House payments delayed by 'global payments issue'

The Bank of England has said a "global payments issue" is delaying some high value and time sensitive payments, including house purchases.

The Bank said it was working to resolve the issue with the CHAPS system, which is used by traditional High Street banks as well as international lenders, as quickly as possible.

The Bank of England has advised anyone who is worried about a CHAPS payment to contact their bank.

The problem is not affecting ordinary debit and credit payments, cash points or bank transfers.

"A global payments issue is affecting the Bank's CHAPS service and delaying some high value and time-sensitive payments, including some house purchases," the Bank of England said in a statement

"We are mindful of the impact this is likely to have and are working closely with a third party supplier, industry and other authorities to resolve the issue as promptly as possible."

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