On the run up to Christmas in December 2020, Oliver and Alexander from Bristol, came to Spring seeking our home buying service due to the stressful collapse of their property chain
The couple, having found their dream new-build home to upsize to, had waited for over eight months to find a buyer for their existing one-bedroom property on the open market. When a buyer was eventually found, frustratingly, Oliver and Alexander faced multiple delays in the transaction including complex legal issues, which resulted in their buyer dropping out and the sale of their property falling through.
“With the transaction falling through and the housing market looking increasingly uncertain due to Covid-19 and the associated delays, we started to get quite worried that we weren’t going to be able to sell in time and that we’d miss out on our new home”, comments Oliver.
The results of this chain break proved highly stressful, as not only did they face the potential of losing their new dream home, but also their mortgage offer was at risk as it was due to expire just before Christmas.
“It would have meant having to start the mortgage process all over again and potentially losing our ideal plot”, said Oliver.
The cost to reapply for a mortgage and starting the process all over again, can run into hundreds of pounds, and at this stage in their property journey, the couple had already been granted two extensions to their mortgage offer, and a third would not be possible.
Oliver and Alexander began to explore their options on how they could rescue their chain and find a buyer for their existing home. Following an initial call with Spring’s dedicated Property Advisors, the couple soon realised all was not lost.
Spring’s home buying service can step into stressful circumstances like the couple faced, by simply buying your existing property. The easy, simple and stress-free process can fix a broken chain and put a property transaction back on track. We can purchase your home in as little as seven days, or on a timescale to suit your onward move. This quick turnaround was the perfect solution for Oliver and Alexander, as not only did it ensure they didn’t lose their dream home, but it also meant they were able to complete before their mortgage offer expired.
“It is reassuring to know that there are solutions available beyond waiting on the open market, which can really drag on, particularly with Covid-19 related issues. It was the perfect Christmas present knowing that our existing home was sold and that we would be able to make our onward move”, added Alexander.
We are delighted that Spring’s home buying service gave Oliver and Alexander the quick, easy and guaranteed sale they needed to be able to make their next move, and all the team wish them both many years of happiness in their new home.
Enter your postcode, we'll do the rest