- {{chain_mender_deadline_to_submit}}
- You check if CHAIN MENDER® (for houses with a current Market Value of no more than £500,000) is available in your town.
- We do not buy your house.
- IMPORTANT POINT: No point in having a Provisional Price™ if you are certain your solicitors can exchange contracts without delay (your solicitors must be holding a current contract for the property you want to move into). What are Chains?
- You decide if you want CHAIN MENDER® so you can be a Fast Mover.
- Our Offer
- Provisional Price™ 85% Surveyors Valuation (property inspection).
- 3 week Facility Period.
- £299 Administration Fee.
- 80% Profit Share.
- See: Treating Customer Fairly
- IMPORTANT POINT: You make an Application or any Estate Agent can do it for you (you cannot submit during coronavirus).
This is what happens if your Application is submitted today:
- You receive our Application Acceptance Email with a link to a webpage where you can see a copy of your Application.
- IMPORTANT POINT: You can now proceed at your own speed as your 3 week Facility Period starts on the date of Surveyors Valuation (during which time you can be a Fast Mover).
- {{chain_mender_deadline_to_pay}} By this date your Solicitors should know if they can further delay exchanging contracts for the property you want to move into, have discussed with you if you need CHAIN MENDER® and you will have paid our Administration Fee
Our Valuation Surveyors will have contacted you to arrange a convenient date to inspect the house you want to sell (they will generally be able to do so within 3 or 4 days). - {{chain_mender_deadline_for_surveyors_inspection}} The date you have asked our Valuation Surveyors to carry out their property inspection.
IMPORTANT POINT: The start of your 3 week Facility Period. - {{chain_mender_deadline_for_surveyors_valuation}}You receive copy of the Valuation and Offer Documents (guaranteed Provisional Price™+ Profit Share Agreement) which you sign on-line.
You receive confirmation of Our Offer (Provisional Price™ of 85% Valuation).
You are now a Fast Mover
Your Solicitors confirm they hold a current contract for the property you want to move into (you can take our Provisional Price™ in 5 days while waiting for your Profit Share). - {{chain_mender_deadline_to_last_draw_down}} The end of your 3 week Facility Period.
- Only if you take the Provisional Price™ will your house be sold.
- IMPORTANT POINT: 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.
- The Drawdown Documents include an Undertaking from our Legal Department that your Profit Share will be sent to your solicitors within 5 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™).
Our typical rate for CHAIN MENDER® is 18.7% APR
See: APR?
- IMPORTANT POINT: On this website and in all Our Documents “days” mean working days and therefore “weeks” are illustrative (i.e. 1 week = 5 working days).
- {{chain_mender_facility_period_start}} to {{chain_mender_facility_period_end}} = Facility Period of 3 weeks (i.e. 15 working days) from date of Surveyor’s Inspection during which time you can take the Provisional Price™.
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