New property management company helps prospective buyers purchase quickly by removing housing market chains

New property management company helps prospective buyers purchase quickly by removing housing market chains

A brand-new property tech company, ReignBird, has launched with a promise to overhaul the standard purchase process for a new home by removing the dependency of sale or financing to break housing market chain.

The company has devised a new approach to acquiring property to help prospective buyers move into their new homes rapidly. ReignBird purchases the desired property in cash and rents it out at the going market rate to the potential buyer for up to six months. During this period, buyers can move into the rented property while completing the sale of their current home.

ReignBird also acquires properties for first-time buyers who need time to arrange financing before the purchase can be completed. In addition, the company offers in-house mortgage services to help prospective buyers secure financing for their new homes if clients are still in need of mortgage advice.

This new approach to property transactions ensures that neither delays in securing a sale nor setbacks in obtaining financing cause buyers to miss out on their dream property. Once finances and sales have been arranged, ReignBird sells the property to the prospective buyer to complete the sale.

A survey of 2,000 homebuyers by Which? found that 3 in 10 UK property purchases fall through, with a sizeable number due to sellers pulling out due to the length of the purchase process. On average, this cost buyers £3,000 and means many people miss out on acquiring their desired home due to uncontrollable delays.

In the UK, 67% of all property purchases are part of a property chain. According to Zoopla, the average sale with a housing market chain can take up to six months, whereas no-chain sales can be completed within six weeks. ReignBird aims to speed this up substantially and have new homeowners moving into their new properties within a month.

CEO and Founder of ReignBird, Mike Atkinson, explains, “Our aim is quite simple; to stop people missing out on their dream homes due to influences outside of their control and to get them into their new homes inside four weeks.”

This new approach to aid property transactions does not hinder buyers in any way. ReignBird uses data-driven analysis to vet potential clients without leaving marks on credit files, nor voids the ability of prospective buyers to use government-backed schemes to acquire a property.

To find out more about ReignBird, visit their website: