Welcome to our new series of question and answer videos hand picked from the Zoopla Q & A section.
We’ve found the question that everybody is asking, “what does chain or no upward chain mean?”
Jeff Djevdet answers all your queries below.
What is a property chain?
A chain is a series of links within a property transaction. So it could be a first time buyer buying a flat, the flat buying a house and the house buying a bungalow.
That is called a chain. You sometimes may also hear broken chain, a broken chain is for example if the first time buyer has lost their job and can no longer buy the flat, the flat can no longer buy the house and the house can no longer buy the bungalow.
This is where a lot of the times people come to Speed Property Buyers and we will then pick up where the chain is broken.
You may also hear no chain, this is where the property is either empty and there is no onward chain or the owners has decided they are not rebuying or they’ve already rebought. So, no onward chain means there’s nobody ahead of you.