[9 October 2005, Sunday Times]: LOTS of people suddenly want to buy my house.

No, they are not your typical buyer looking for a dream home, but companies looking for a quick profit.

Firms such as National Homebuyers and Fast Buy are pushing leaflets through doors offering cash for your property so you don't have to wait for a buyer, or so that you can save a chain from collapse.

Chain-breaking is becoming more common in today's sluggish market. Why? When buyers are thin on the ground, sellers get desperate. They accept offers that seem a bit shaky. Buyers are also more nervous. They are worried that house prices might fall further, so they are hesitant to commit.

Unscrupulous buyers might also decide to play dirty and indulge in a bit of gazundering — they put in a lower offer just before the exchange of contracts. If the vendor won't budge, the chain collapses. If a chain breaks, you not only have to start the process all over again, you also lose the money paid for surveys and solicitors.

So can these companies help? National Homebuyers will make an almost instant offer on your house, so if your buyer pulls out, the company steps in and saves the chain — but don't expect to get the full price.

National Homebuyers always pays at least 10% less than the going rate, and you might have to accept 30% less than the market value. It all depends on the survey — carried out by a member of the Royal Institution of Chartered Surveyors — and usual factors such as location.

So, if your house is for sale at £400,000, you should be prepared to accept between £40,000 and £120,000 less than the asking price. National Homebuyers will refund the cost of the survey and pay up to £500 of your solicitors' fees if the sale goes through.

Now, I'm sure the company provides a useful service and nobody would expect it to pay the full market value, but I don't think I could take a 30% hit — not unless I was desperate.

There are other ways to save a chain; letting to buy, for instance. You then let your home so that you can buy the new property.

But letting to buy is not without its problems. You normally have to take on two mortgages: one to buy your new house and a buy-to-let loan for your existing property. So there would have to be enough equity in your house to cover the deposit on the buy-to-let loan — typically 15% — plus the deposit on your new property, not forgetting costs.

Payments on the buy-to-let loan should be covered by the rental income. But many lenders insist that the rental income equates to 120% or 130% of the mortgage interest.

The Mortgage Works has a loan fixed for three years at 4.55%, according to Chase de Vere Mortgage Management. The rent must be at least 125% of the mortgage interest and the minimum deposit is 15%. The arrangement fee of 1.5% is steep, but it might be good value if you have a big mortgage.

Alternatively, Clydesdale Bank is offering 4.85% fixed for two years. The minimum deposit on this deal is 20% and your rent must be 130% of the interest. There is a fee of £499.

Chase de Vere recommends a three-year tracker from Derbyshire at 4.73%. The minimum deposit is 20% and the mortgage cover is 125%. Again the fee is high, at 1.5% of the loan.

GMAC asks only that your rental income covers the mortgage interest — there is no buffer required. It offers a three-year tracker with a pay rate of 5.24%, but with a fee of £1,495 and a minimum deposit of 25%. If you can only put down 15%, the rate rises to 5.49%.

The big downside of letting to buy is that you have to deal with tenants, assuming they are in plentiful supply in your area. But it can be a useful way to save a chain — and means you don't have to accept a ridiculous offer from a property company or a gazunderer.

The alternative to buy-to-let is a bridging loan against your current property. But these are expensive; there is usually a 1% set-up fee and the interest rate is typically two percentage points higher than base rate. You may also be charged an exit fee when you repay the loan.

The best way to avoid a broken chain is to avoid a chain. You might be able to sell to a first-time buyer or buy-to-let investor.

Or how about selling your home and renting so there is nobody beneath you in the chain? It puts you in a stronger bargaining position — and you can tune out when the dinner party conversation gets round to house prices.