Chain-break services

1." We saw a sharp increase in chain breaks over the first lockdown however these seem to have quietened down since. Overall, I would still say we are seeing more now than pre-lockdown. 2. "Yes we believe more borrowers have been inclined to use a chain saving service to ensure they can secure a property, as the property market has been so competitive for buyers anything that will give them the edge such as being chain-free has really been an advantage to them being able to win the property over a buyer applying for a standard mortgage. 3. "The benefits of a chain saving service are that you can secure the property you want, and you are more likely to have your offer accepted because the seller can ensure a quick sale. The downsides are that It can be more expensive with rates from 0.5% per month in comparison to a standard mortgage where rates are 2-3% per year. 4. "We would recommend them if needed, but what is absolutely vital to keep in mind is that they are short-term finance products and before applying, you should make sure you have an exit route to repay the loan in full after the 12-24 month term."