CHAIN FREE®

What is CHAIN FREE®?

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  • What are Chains?
  • 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: For 20 weeks you can say you are a CASH BUYER up to your Fall Back Price® (you know you can take the Fall Back Price® on 5 days notice) See: An Example
  • Sellers Conundrum
  • Ask your Estate Agents if and when you should make an Application to join the Plan (your house must not have been “Added on” Rightmove for sale for more than 10 weeks).
  • The Fall Back Price® is:
    • Non-recourse (unlike a mortgage you have no legal commitment to repay the Fall Back Price® / 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
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.