CHAIN MENDER®

Benefits

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  • What CHAIN MENDER® can do for you:
    • Selling, gives you finance (Provisional Price™) so you can quickly move and then share in the profit when your house is sold (we do not buy your house)
    • Moving, makes you a Fast Mover if you want to move to a new area, into a new house or retirement property or have to relocate as soon as possible
  • When you have CHAIN MENDER®:
    • You can take your time to sell for the highest price and take our Provisional Price™
      when it suits you.
    • You can quickly exchange contracts for your next home (generally in no more than 9 days).
    • From the date you take the Provisional Price™ you will have no legal responsiblity to pay any Property Costs relating to your house (we will pay Council Tax, insurance, utilities and garden maintenance).
    • Stamp Duty Land Tax (SDLT):
      • If you take the Provisional Price™ and buy a second property before your house is sold you may be charged by HM Revenue & Customs (HMR&C) an Additional Rate of SDLT on the second property.
      • In this event we will pay the Additional Rate and claim a refund from HMR&C.
    • You can take the Provisional Price™ at any time during your 3 week Facility Period by giving us 3 days notice.
    • If you take the Provisional Price™ (because your solicitors can’t delay exchanging contracts for the property you want to move to):
      • Our Drawdown Documents will include a Sale Contract (our Legal Department will add the buyers name) and Transfer for you to sign so we can sell your house.
      • You will not have to pay your Estate Agents a Sale Fee, we re-instruct them and pay their fee.
      • IMPORTANT POINT: If the Sale Price of your house is more than Valuation you will receive 95% of the difference between Sale Price and Valuation (95% Profit Share) See: Treating Customers Fairly