“New Listing” opportunities are properties for which we have negotiated an option to purchase at an agreed price. The funds to purchase these properties are live funded on our platform within a specified time period.
New Listing opportunities are presented on the platform along with a Chartered Surveyor’s valuation and survey, solicitor’s conveyancing report and forecast rental information.
When you commit funds to a “New Listing”, your London House Exchange account balance will decrease but no money will actually leave the client monies account until the live funding target is reached.
In the unlikely event that a new listing does not reach its funding target within the specified time, either London House Exchange will make up the difference using our own cash (for example, if the difference is very small) or the funding process will fail and the property will not be acquired. Where the funding process fails, all committed funds will be released in the respective customers’ accounts i.e. the funds will never leave your customer account. This applies to 100% of committed funds – London House Exchange will obviously not charge or receive any fees and any costs that have been incurred (for example, surveyors and solicitors) will be borne solely by London House Exchange.
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