CHAIN FREE®

How it Works

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    • Please read the Sellers Conundrum
    • IMPORTANT POINT: CHAIN FREE®  (available through the Home Owners Plan™) will help you buy before selling. 
      • The Plan helps you quickly buy while your own Estate Agents are selling your house.
      • The Plan provides you with a 20 week chain-avoiding insurance type arrangement (CHAIN FREE®).
      • The Plan guarantees you finance (Fall Back Price®) which you can take at any time during those 20 weeks (if you can’t wait to sell your house for your Asking Price).
      • The Plan is not a quick sell scheme quick sell schemes only attract desperate sellers in a falling market.
      • The Plan enables you to quickly buy against competition always more difficult to buy than sell especially in a rising market.
      • The Plan does not buy houses fast for cash at a knockdown price the Plan does not buy your house which you never have to sell for less than Market Value.
    • Discuss with your Estate Agents 
      • The pros and cons of joining the Plan and when to make an Application so you don’t lose the house you want to buy. See: Benefits
      • When your house was “Added on” Rightmove for sale (you can join the Plan at any time providing your house has not been “Added on” Rightmove for more than 10 weeks).
    • Cost of joining the Plan 
      • 1% Fall Back Price® min. £1,980 (1% Fee). See: Plan T&Cs for details.
      • If you take the Fall Back Price® the 1% Fee is deducted from the Fall Back Price®.
    • OPTION 1
      • Houses with current market value no more than £500,000
      • Fall Back Price® 90% DataSource Valuation
        or after a property visit 90% RICS Surveyors Valuation
      • 20 week Facility Period (extendable to 40 weeks)
    • OPTION 2
      • Houses with current market value over £500,000
      • Fall Back Price® 85% DataSource Valuation
        or after a property visit 85% RICS Surveyors Valuation
      • 20 week Facility Period (extendable to 40 weeks)
    • Advantages 
      • If you join the Plan you are not legally commited to take the Fall Back Price® or to sell your house.
      • When you are in the Plan you can upgrade at any time from DataSource Valuation to RICS Surveyors Valuation on payment of our Administration Fee.
      • IMPORTANT POINT: Most home owners will use CHAIN FREE® to quickly secure their next house (you can join the Plan in 1 day) and will not need to take the Fall Back Price® because their own Estate Agents will have sold their old house for more.

    The following dates show what can happen if you make an Application.

  • {{chain_free_deadline_to_join_plan}} Today you make an Application (assuming your house has been on the market for sale for 6 weeks, you are not in a hurry and join the Plan in 4 weeks time).

    You receive our Offer Email with the date your house was “Added on” Rightmove for sale, a link to our Offer Documents and our offer of Fall Back Price® at DataSource Valuation.

    The start of your 20 week Facility Period.

  • {{chain_free_deadline_to_receive_documents}} This date is 4 weeks from today.

    You sign our Offer Documents on-line.

    You have joined the Plan (and do not have to take the Fall Back Price® or have to sell your house).

    Now you can say you are a Cash Buyer up to your Fall Back Price® and secure the house you want to buy.

    You are able to proceed at the speed recommended by your Estate Agents (time to get a mortgage agreement in principle and any additional finance required).

    You pay our Administration Fee to upgrade to RICS Surveyors Valuation (a property visit will produce a more accurate valuation of your house).

    Our RICS Valuation Survayors contact you to inspect your house (which they can generally do within 3 days). See: An Example

  • {{chain_free_deadline_to_draw_down}}The end of your 20 week Facility Period.

    If during your Facility Period you want to take the Fall Back Price® (because you can’t wait to sell for your Asking Price) your solicitors will access the Drawdown Documents and submit a Drawdown Notice on-line.

    Because we do not buy your house the Drawdown Documents include a Sale Contract (our Legal Department will add the buyers name) and Transfer for you to sign so your house can be sold through the Plan.

    When you take the Fall Back Price® you must contemporaneously give us vacant possession and pay off any outstanding mortgages (which you can do with the Fall Back Price®).

    If you take the Fall Back Price® you will not have to pay your Estate Agents a Sale Fee (we have not bought your house), the Plan will re-instruct your Estate Agents to sell your house through the Plan and the Plan will pay them a 1.5% Resale Fee. See: Fees.

    No sooner than 1 week before the end of your 20 week Facility Period you can make an Application for an Additional Facility Period of a further 20 weeks (Please Contact us and See: Ethical Finance for details).

    Our typical rate for CHAIN FREE® is 12.1% APR

ANY LOAN WILL BE SECURED BY A CHARGE OVER THE PROPERTY YOU ARE SELLING. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT