- CHAIN MENDER® is a 4 week chain-mending solution that will make you a FAST MOVER
- Movers Conundrum
- IMPORTANT POINT: Your solicitors must be holding a current contract for the property you want to move into (ask your solicitors to confirm this)
- Give your Estate Agents time to sell for your Asking Price and use CHAIN MENDER® only when you have to be a Fast Mover and your solicitors can’t delay exchanging contracts on your next home
- We do not buy your house which you never have to sell for less than Market Value
See: Treating Customers Fairly
- For 4 weeks you will be a Fast Mover up to our finance (Provisional Price™)
- The maximum Provisional Price™ will be 85% RICS Surveyors Valuation of the house you are selling
- You can take the Provisional Price™ on 5 days notice
- IMPORTANT POINT: If you take the Provisional Price™ and the Sale Price of your house is more than Valuation you will receive 85% of the difference between Sale Price and Valuation (85% Profit Share)
- The Provisional Price™ is:
- Non-recourse (unlike a mortgage you have no legal commitment to repay our finance / 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.