Report comment

Auntie Eadie, chains exist for two very practical reasons. First and most important, many buyers cannot raise the purchase price without a sale. Mortgages of 100%+ (to pay stamp duty etc) would become essential, with an expectation that a proportion would be repaid immediately following the later and unconnected sale. Secondly, most people like to sell and buy on the same day, so they don't have to worry about hotels, renting property or whatever, to bridge the possible gap between selling up and buying anew.