HouseSimple introduce high street ‘No Sale No Fee’ option

Wednesday 27 January 2016  / Ruth Montia

The Online agency HouseSimple has decided to introduce a high street agency option for vendors of ‘No Sale-No Fee’.  This option will only be available to those who use their preferred conveyancer and mortgage provider.

A few of the other online portals have changed their processes to include the ‘No Sale-No Fee’ option and now HouseSimple is the latest to charge a fee of £795 including VAT.

This fee will run alongside its existing fixed fee option of £395 including VAT, where the fee is payable on completion of the sale or after 12 months. It will replace the Pay-as-you-Go fee option, which HouseSimple had trialled last year.

If the vendor chooses to use the suggested conveyancer, but not mortgage provider (or vice versa) the fee is £895, but if they choose to use their own conveyancer and mortgage broker and £995. All fees are include VAT.

The agent’s chief executive, Alex Gosling comments “We have introduced the No Sale No Fee model because we recognize this is a structure that the British public are familiar and comfortable with. For people who have never sold a property online before, there is always likely to be a degree of uncertainty about paying up front. It’s understandable for them to think, if I pay my money upfront, how committed will they be to selling my house?”