CHAIN MENDER®

What is CHAIN MENDER®?

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  • What are Chains?
  • CHAIN MENDER® is a chain-mending solution (your solicitors must be holding a current contract for the property you want to move into) guaranteeing you up to 85% of the value of the house you are selling (Provisional Price™) for 4 weeks from the date of our DataSource Valuation.
  • If you think a home visit will result in a more accurate valuation you can upgrade from DataSource to RICS Surveyors Valuation.
  • CHAIN MENDER® will make you a FAST MOVER up to your Provisional Price™.
  • 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 (no deductions)
  • Movers Conundrum
  • IMPORTANT POINT: 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
    • You can take the Provisional Price™ on 5 days notice
  • 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.