- What are Chains?
- CHAIN FREE® is a 20 week chain-avoiding insurance type arrangement (with an offer of finance) available through the Home Owners Plan™.
- IMPORTANT POINT: Joining the Plan does not legally commit you to to take our finance or to sell your house.
- During your 20 week Plan Membership you avoid the risk of being in a chain that can break at any time.
- IMPORTANT POINT: When you join the Plan (you can join the Plan no later than 10 weeks from the date your house was “Added on” Rightmove for sale) you can use our offer of finance (Fall Back Price®) to quickly secure the property you want to buy for the lowest price while your estate agent is selling yours for the highest.
- The Fall Back Price® available through the Home Owners Plan™ is:
- 90% DataSource Valuation or 90% RICS Surveyors Valuation (LTV) for the house you are selling (houses up to £500,000)
- Available 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)
- 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
- See: Benefits
- IMPORTANT POINT: 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.
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.