Later Exchanges in 2016

Later Exchanges in 2016

One of the biggest problems faced by removers is late access to unload. This can be for a few reasons, but is usually because of transfer of funds and ownership of the properties involved.

As from next summer, this is likely to get worse.

The changes to CHAPS/CREST settlement day are likely to make many transfers happen a lot later than they should.

There was a popular saying in the 1980s – “Work done is proportional to the time allocated to it.” This is often seen to be the case.

If a conveyancer is given an extra 1 hour 40 minutes to do a job, it’s likely to take 1 hour 40 minutes longer.

This will mean that instead of exchanges happening just before 4:20pm, they are more likely to happen moments before 6:00pm. The implications for our industry are huge, as described in a blog post by Matt of M & G Transport, (here).

The original news release by the Bank of England can be found here…

Over the next few weeks, AIM will be looking at what changes our industry can make to our current business practices, in order to accommodate the changes to CHAPS/CREST.

We welcome your suggestions and attendance at the next Steering Group Meeting.

 

AIM Assessments

It’s been a busy week for AIM’s Assessors, so more new members will be announced next week, once the process is completed.

The AIM Assessment is a vital part of membership as it allows us to assess how we can best help the applicant. It is more than a tick-box exercise as no two removals businesses are identical.

In many cases, the remover gains from their AIM Membership, even before the Membership is finalized, through advice, tips, document templates and useful contacts.

Call Scott on 0208 892 0369 to arrange an assessment and start the ball rolling.

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Address:

The Association Of Independent Movers
Unit 4, Skills Centre,
Twickenham Trading Estate,
Rugby Road,
Twickenham,
TW1 1DG
Phone:0208 892 0369

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