A chain break is defined as clients who are looking to complete the onward purchase of their new property using the sale proceeds from their existing house. The clients buyers pull out leaving them in a situation where they cannot complete their purchase as the required funds are no longer available to them.
We can provide short term lending solutions to cover the missing funds from their sale to allow the clients to purchase their new property and repay the finance when their existing property sells
- The finance is secured on one or both properties and clients can achieve up to 70% LTV per property, therefore 100% plus is achievable
- Typically, rates can start in the region of mid 0.48% pm (for 40% LTV), depending on the client/property profile
- The maximum term available is 12 months
- Exit solutions available, please ask