CHAIN MENDER®

How it Works

  • {{chain_mender_deadline_to_submit}}
    • You check if CHAIN MENDER® 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.
    • You will receive 80% of the Profit if the Sale Price of your house exceeds Surveyors Valuation (i.e. Sale Price less Valuation with no costs or deductions whatsoever).
    • 3 week Facility Period during which you can take the Provisional Price™ by giving us 5 days notice
    • £299 Administration Fee
    • OPTION 1
      • Houses with current market value no more than £500,000
      • Provisional Price™ 85% Surveyors Valuation
    • OPTION 2
        • Houses with current market value over £500,000
        • Provisional Price™ 80% Surveyors Valuation (case-by-case)
    • 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 the Provisional Price™.
    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