- Use CHAIN FREE® when you want to be a Proceedable Buyer
- CHAIN FREE® (a 20 week chain-avoiding insurance arrangement) is only available through the Home Owners Plan™ if Your Solicitors are not holding a contract for the house you want to buy.
- You can join the Plan no later than 10 weeks from the date your house was “Added on” Rightmove for sale.
- Most home owners will use our Offer of Finance (you know you can take our finance in 5 days) to quickly secure their next house and will not need to take our finance because their agent had time to sell their old one for the highest price.
- Our Offer of Finance (Fall Back Price®) for the house you are selling when you join the Home Owners Plan™ will be:
- For houses up to £500,000
– 90% DataSource Valuation or 90% RICS Surveyors Valuation - For houses over £500,000
– 85% DataSource Valuation or 85% RICS Surveyors Valuation - Available
– during your 20 week Plan Membership
– on 5 days notice from the date you join the Plan - Non-recourse
– unlike a mortgage you have no legal commitment to repay our finance / we can only recover our finance from the sale of your house
– if you take our finance (we do not buy your house) we will ask you to sign a Sale Contract (our Legal Department will add the buyers name) and Transfer so your house can be sold through the Plan and we can recoup our finance - Open-bridge
– no fixed repayment date which obliges you to re-pay by a specific date - Non-status
– we are not interested in your financial circumstances - Interest-free
- Plan Membership Fee
– 1% Fall Back Price® (See: Plan T&Cs Clause 3 and 4 for full details)
– If you take the Fall Back Price® the 1% Fee is deducted from the Fall Back Price®
- For houses up to £500,000
- See: Benefits
- See: Regulation
- We can not advise you if you should take any of our financial products. We can not recommend any financial product. If you need advice you must consult a solicitor, broker or independent financial adviser.