New online estate agency Nested has secured £8m in funding from investors, and is promising users of its services that it will sell their home within 90 days or provide an interest-free loan so they can move ahead with purchasing their next property.
Sellers are reluctant to accept offers from buyers in a chain, and people regularly miss out on their dream home or spend months in limbo, Nested chief executive Matt Robinson said.
Nested will guarantee a sale at 95%-98% of its valuation of a property. If there is no sale within 90 days, it will take a first-charge mortgage on the property, transferring cash to the homeowner. The remainder is due once the property is sold.
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