CHAIN MENDER®

How it Works

  • {{chain_mender_deadline_to_submit}}
    • Please read the Movers Conundrum.
    • CHAIN MENDER® enables your solicitors (under pressure to exchange contracts for your next home) to exchange quickly so you can move before selling.
    • IMPORTANT POINT: You can take your time to sell for the highest price and take our Provisional Price™ when it suits you. See: Benefits
    • OPTION 1
      • Houses with current market value no more than £500,000
      • Provisional Price™ 85% DataSourse Valuation
        or after a property visit 85% RICS Surveyors Valuation
      • 95% Profit Share
      • 3 week Facility Period
    • OPTION 2
      • Houses with current market value over £500,000
      • Provisional Price™ 80% DataSourse Valuation
        or after a property visit 80% RICS Surveyors Valuation
      • 95% Profit Share
      • 3 week Facility Period
    • IMPORTANT POINT:
      • Your solicitors must be holding a current contract for the property you want to move to.
      • 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)
      • You can upgrade from DataSource Valuation to RICS Surveyors Valuation at any time during your 3 week Facility Period on payment of our Administration Fee.
      • You can make an Application or any High Street Estate Agent can do it for you.

    The following dates show what can happen if you make an Application today (you will receive our Offer Email with a link to our Offer Documents and our offer of Provisional Price™ at DataSource Valuation).

    The Start of your 3 week Facility Period.

  • {{chain_mender_deadline_to_pay}}  You decide to upgrade to RICS Surveyors Valuation (a property visit will produce a more accurate valuation of your house).

    You pay our Administration Fee.

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

  • {{chain_mender_deadline_for_surveyors_inspection}} RICS Valuation Surveyors property inspection.
  • {{chain_mender_deadline_for_surveyors_valuation}} You and your solicitors receive a copy of the RICS Surveyors Valuation and our Offer Documents (guaranteed Provisional Price™+ 95% Profit Share Agreement).

    You sign our Offer Documents on-line.

    Your Solicitors confirm they hold a current contract for the property you want to move to (you can take the Provisional Price™ at any time during your 3 week Facility Period on 3 days notice).

    You receive confirmation of the Provisional Price™.

    You are now a Fast Mover and can quickly exchange contracts.

    Your solicitors give us 3 days notice.

  • {{chain_mender_deadline_to_last_draw_down}}You take the Provisional Price™ at RICS Surveyors Valuation.

    You Exchange contracts 9 days from today.

    You can now Move as soon as you complete contracts on your new home.

  • {{chain_mender_end_of_facility_period}} The end of your 3 week Facility Period.

    Only if you take the Provisional Price™ will your house be sold.

    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 we can sell your house on your behalf.

    IMPORTANT POINT: The Drawdown Documents include an Undertaking from our Legal Department that your 95% Profit Share (95% of the difference between Sale Price and Valuation if the Sale Price of your house is more than Valuation) will be sent to your solicitors within 3 days from the date contracts are completed on the sale of your house.

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

    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, cleaning, garden maintenance, estate agent sale fees and if applicable any Additional Rate of SDLT).

    If you take the Provisional 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 and pay them a 1.5% Resale Fee. See: Fees.

    Our typical rate for CHAIN MENDER® is 18.7% 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