CHAIN FREE®

How it Works

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    • Please read the Sellers Conundrum
    • CHAIN FREE® is a chain-avoiding insurance type arrangement available through the Home Owners Plan™ guaranteeing you up to 90% of the value of the house you are selling (Fall Back Price®) for 20 weeks from the date of our DataSource Valuation.
      • If you think a home visit will result in a more accurate valuation you can upgrade from DataSource to RICS Surveyors Valuation.
      • IMPORTANT POINT: Use CHAIN FREE® to secure your next property for the lowest price with no legal commitment to take the Fall Back Price® and no legal commitment to sell your house.
      • You can join the Plan when your house has been “Added on” Rightmove for sale for no more than 10 weeks.
      • The Plan guarantees you finance (Fall Back Price®) which you can take on 5 days notice (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.
      • The Plan helps you buy while your Estate Agents are selling your house for your Asking Price.
      • The Plan gives you a safety net in a slow market and enables you to buy against competition in a rising market.
      • The Plan does not buy houses fast for cash at a knockdown price fast for cash schemes commit you to sell for less than Market Value.
      • You can join the Plan in 1 day to become a Cash Buyer.
    • Estate Agents 
      • Discuss with your Estate Agents the pros and cons of joining the Plan and when to make an Application .
    • Cost of joining the Home Owners 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 + VAL FREE®
      • 20 week Facility Period
    • 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 + VAL FREE®
      • 20 week Facility Period
    • Advantages of joining the Plan 
      • IMPORTANT POINT: See: Benefits 
      • You can make an Application or any  high street Estate Agent can do it for you (when your Application is accepted you will receive a  DataSource Valuation and our offer of a Fall Back Price®).
      • Our Offer Documents (which include the Plan T&Cs) are on-line, which your solicitors can view and can be signed on-line.
      • You will never have to sell your house for less than Market Value. See: Treating Customers Fairly

    The following dates show what can happen if your Application is accepted today (your house has a current market value of less than £500,000 and has been on the market for 6 weeks).

  • {{chain_free_deadline_to_join_plan}} Today you receive our DataSource Email with our offer of Fall Back Price® at 90% DataSource Valuation together with a link to our Offer Documents.

    The start of your 20 week Facility Period.

  • {{chain_free_deadline_to_receive_documents}} This date is 4 weeks from today (you are not in a hurry to join the Plan).

    You sign our Offer Documents.

    You have joined the Plan (IMPORTANT POINT: with no legal commitment to sell your house and no legal commitment to take the Fall Back Price®).

    You have CHAIN FREE® and are a Cash Buyer while waiting for your Estate Agent to sell your house for your Asking Price.

    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 decide a property visit will produce a more accurate valuation of your house.

    You pay our Administration Fee to upgrade from DataSource Valuation to RICS Surveyors Valuation.

    Our RICS Valuation Surveyors contact you to inspect your house which they can generally do within 3 days.

    You receive our RICS Email (with a link to Revised Offer Documents) with our offer of Fall Back Price® at 90% RICS Surveyors Valuation.

    IMPORTANT POINT: You now decide to secure the house you want to buy. 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), we will re-instruct your Estate Agents to sell your house.

    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