Quote:
Originally Posted by JNW1
Going back a lot of years I remember a colleague at work relating a similar story; quite a long chain that started with a relatively cheap first-time buyer home and ended with something pretty expensive. At the 11th hour the chain broke right at the bottom so the person at the top sorted it by buying the first-time buyer home so everyone else in the chain could complete; the value of that house was loose change to him and even if he made a small loss selling it he felt it was worth it to ensure his own sale went through!
However, clearly not all house purchase chains have a person who can afford to do that and I agree the OP's position highlights shortcomings in the English system - our friends North of the Border seem to do it much better...
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I think some of the volume house builders used to do this with what they termed a "Chain Break".