The advance gives you certainty
The advance is the amount we can offer you before your home sells. This is typically 90-95% of what we expect your home to sell for. You can use it to fund your next purchase immediately or as a safety net in case any future offers fall through.
Find out how
How does Nested determine the advance?
If you've been listed at our recommended price for 30 days we may be able to offer you an advance. If you decided to list above our recommended price, we'll need to wait until we gain sufficient data about your property performance in order to offer you an advance.
The advance amount we offer is the minimum amount you'd receive for the property, typically between 90-95% of what we think it will actually sell for. We take the risk if it sells for less than this amount and if it sells for more you get the full proceeds minus our fees.
The performance data includes both interest and enquiries for your property versus a market benchmark. Our agency team will share all this with you so you have complete visibility into the sale.
When can I use the advance?
As soon as you've accepted Nested's advance offer, you become chain-free and are able to offer on your dream home. If your buyer has just fallen-through and you're at risk of losing your new home, you can re-establish your offer and continue with the purchase. You no longer have to wait for us to sell your home.
The later you withdraw the advance, the less you'll pay in fees.
4-in-10 of our customers never withdraw the advance and pay just 2% in fees.
Why do I want to be chain-free?
Negotiate as a chain-free buyer and save money on your next purchase. Homeowners expect to save an average of 4% on their new home purchase by not being in a property chain. This more than covers our fees, and can be an even bigger saving if you're upsizing.
On a £500,000 property, you could save £20,000 off the purchase price
Frequently Asked Questions
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What happens if my property sells for less than the advance?
If you take your advance and we end up selling your property for less, it won't affect you at all. You'll still keep the full advance and we will cover any shortfall ourselves.
What happens if my property sells for more than the advance?
If your home sells for more than your advance you'll first receive the advance amount minus our fees, depending on when you withdraw the money.
When the home sells for more than the advance you'll be passed the proceeds from the sale minus 0.5% on any upside between the sales price and the advance, if applicable, at completion.
How do you determine what my advance will be?
Your advance is the highest amount we are comfortable paying out before your home is sold. We base our expectations on what is currently happening in the London property market and we specifically look at your local area. We look at similar properties to yours and find out how many are for sale, under offer and have been recently sold. We also look at how long it's taking for homes like yours to sell, and how many homes have price reductions in that time. We also look at how your home has performed on the market for the first few weeks of listing with us.
When we've done our research, we give you the absolute maximum advance that we're able to, taking into account the risk. For us to take on the risk that the market might change, it means we can't give you everything up front. We're confident in our agency team's ability to sell above your advance, and we'll give you any extra when it sells.
How do I receive the advance?
The advance is a fixed amount that you can withdraw from 30 days, paid straight into your bank account.
When we pay the advance, there are no complicated repayment terms. We continue to act as your estate agent to sell your home for the best price.
For example, if we advance you £400,000 and your mortgage remaining is £100,000, you will have £300,000 cash in your bank. You can then use this as a deposit for your next home and combine it with a new mortgage
If I take the advance, do I have control over what offers are accepted on my home?
It's your home and we will work closely with you every step of the way when we're selling it so you know exactly how the market is responding. We will always try to help you achieve the best price possible for the property.
If you do accept our Advance offer, we start a due diligence process, which you must complete before we release the funds. 45 days after the start of the due diligence period we’ll have a strong indication of the value of your home and from this point we'll have the right to accept offers on your behalf, provided your property has successfully passed due diligence. We’ll only use this right in exceptional circumstances, and will keep you updated in real-time about what price we expect to achieve for your property, getting your feedback throughout.
In the case where you take the Advance offer and the sale price ends up being below the Advance amount, we take the loss and will not ask you to pay the difference.