- What are Chains?
- CHAIN MENDER® is a chain-mending solution with a Profit Share (See: Benefits).
- CHAIN MENDER® is a guarantee that at any time during 4 weeks from the date of our DataSource Valuation of the house you are selling you can take our finance of 85% DataSource Valuation (for houses up to £500,000).
- If you think a home visit will result in a more accurate valuation you can upgrade from DataSource to RICS Surveyors Valuation.
- IMPORTANT POINT: For 4 weeks you will be a FAST MOVER (up to our finance) you can move before selling.
- 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
- Your solicitors must be holding a current contract for the property you want to move into.
- We do not buy your house which you never have to sell for less than Market Value.
See: Treating Customers Fairly
- Ask your Estate Agents if and when you should make an Application (your house must be on Rightmove for sale).
- Our finance is:
- Available on 5 days notice
- 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)
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.