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CHAIN FREE®

Example

Selling A

 Valuation £350,000
  • CHAIN FREE® is a 20 week chain-avoiding insurance arrangement (with an Offer of Finance/LTV) available through the Home Owners Plan™ for sellers on Rightmove
  • IMPORTANT POINT: Joining the Plan does not legally commit you to sell your home or to take the finance (Fall Back Price®)

Buying B

£400,000

You join the Plan

You can now tell the agent selling B that you are a Proceedable Buyer (you can buy for the best price with time to sell A for the highest price)
You can’t wait 20 weeks to sell A for your asking price and are desperate to buy B against competition

Example

  • You offer £376,000 for B
    (£400,000 less 6% / £24,000)
  • Your offer is accepted

Saving

– On Buying Price (6% £400,000) B £ 24,000
– Less 1% Fee (1% Fall Back Price®) £ 3,150
– Total Saving B £ 20,850

 

  • You pay off your mortgage with the Fall Back Price® or transfer your mortgage to B
  • You have time (20 weeks) to find the additional finance of £61,000 (£376,000 – £315,000) required to buy B or to source a new mortgage
 You can wait 20 weeks to sell A for your asking price

  • You don’t need to take the Fall Back Price® because you had time to sell A for market value (with VAL FREE® for your buyer)