The system, used for high-value transactions including property purchases, was disrupted by a “global payments issue” on Thursday. This caused concern for homebuyers and removal companies as some transactions were put on hold.

The Bank of England confirmed that the issue, originating from a third-party supplier, was resolved by late afternoon, and all payments were expected to be settled by the end of the day. The extent of disruption to house purchases remains unclear.

This isn’t the first time the CHAPS system has experienced technical difficulties, with previous incidents occurring in 2023 and 2014.

Other payment systems were not affected by the outage.