Home buying service relaunches with £300m backing and new agent proposition

first_imgA home buying service established in 2007 has relaunched with a new name, a £300m purchasing fund and an upgraded proposition for estate agent partners.Formerly known as National Property Trade, Croydon-based Spring promises to be more transparent on pricing and has also removed several of the traditional stumbling blocks.It also claims to be a quicker and more rewarding alternative to auctions for both vendors and agents, preventing fall-throughs and completion delays.Spring pays vendors a guaranteed fixed price of between 91% and 85% of valuation and pays the price difference if the property is subsequently sold for more than its valuation price.The company says it “aims to give one price to the majority of the properties it engages, removing the multiple price drops historically associated with buying firms”.Homes sold to Spring do not need to be renovated or prepared for sale, with Spring able to make an initial offer for most homes within 48 hours, completing in as little as seven days.“Partner estate agents can offer our service in their pitch to their own customers, guaranteeing their clients a certain sale to Spring should they need it, either immediately or at any point after listing with the agent,” says Spring CEO Cormac Henderson (pictured).Spring enables agents to earn two sets of fees; initially when referring customers to Spring and then following completion, when Spring will instruct them on the onward resale of the property.“We can also refer potential clients, who have declined a Spring offer but are still seeking a sale, to our best-performing partner agents. Spring can also make offers to fix any chain breaks affecting the agent’s existing stock.”spring cormac hendersen November 11, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Home buying service relaunches with £300m backing and new agent proposition previous nextProducts & ServicesHome buying service relaunches with £300m backing and new agent propositionNational Property Trade has become Spring and is offering estate agent partners a more transparent and comprehensive offering.Nigel Lewis11th November 20200853 Viewslast_img read more