Funding Limit

  • Parties:- Facility Funder (Funder)
    – Albani Limited (Albani)
    – Home Owners Plan Limited (Plan or CHAIN FREE®)
  • Sequence:- Funder finances Albani.
    – Albani offers specialist Open-Bridge finance to home owners i.e CHAIN FREE® (Facility Letter)
    and Fall Back Price® (LTV).
    – If home owner draws down LTV from Albani property sold through Plan.
    – Plan reimburses Albani sale proceeds with no deductions or LTV whichever is
    lower. Reason: Finance offered to home owner is non-recourse and home owner
    receives Profit Share if they draw down LTV and their house is subsequently
    sold through the Plan for over Surveyors Valuation (80% difference Sale Price less
    Surveyors Valuation/no deductions).
  • Limit is the total amount of revolving credit facility or debt capital (Facility) provided by Funder to Albani managed through:

    – 10 Levels of Sequential Risk Management (LSRM) at 6 Stages
    See: Process
    – To stop all 6 Stages i.e. in the event Macro Risk
    See: Restrictions at Real Time Risk Control
    Risk Management > Restrictions
    – An algorithm (being constructed by Dept of Applied Economics, University of Cambridge
    to prevent the Limit being exceeded and to maintain 10% headroom)
    See: Download to Excel 

  1. Customers x Estate Agents Opinion of Valuation of the houses they are selling (EAOVs). IMPORTANT POINT: EAOVs no longer required.
    LSRM 4Risk Management > Financial Risk.
  2. Same as Customers that have paid the Administration Fee x their EAOVs.
  3. Same as Customers x their EAOVs.
    LSRM 6: Risk Management > Queued Valuations.
  4. Same as Customers with approved Surveyor Valuations x LTVs (90% or 80%).
    LSRM 7: Risk Management > Review Valuations.
  5. LSRM 8: Risk Management > Queued Finance Docs. for Customers to sign (Product Offers).
  6. LSRM 9: Risk Management > Queued Finance Docs. for Albani to sign.
  7. Same as Customers and Albani that have signed Financial Docs. x their LTVs (Product Sales).
  8. EXITS: Customers that have not drawn down their LTV during their 20 or 40 week Facility Period and who have sold their property during their 40 week Membership Period.
  9. NON-EXITS: Customers that have drawn down their LTV during their 20 or 40 week Facility Period who are waiting to sell their property through the Plan.
  10. NON-EXIT SALES: Customers that have drawn down their LTV during their 20 or 40 week Facility Period whose property has been sold through the Plan.
  11. OFF MARKETS: Customers that have not drawn down their LTV during their 20 or 40 week Facility Period and have withdrawn their property from the market for sale during their 40 week Membership Period.
  12. NO-SALES: Customers who have neither drawn down their LTV during their 20 or 40 week Facility Period nor have withdrawn their property from the market for sale during their 40 week Membership Period during which time that have not sold their property.
  13. Provisional means Customers x their LTV who have signed the Financial Docs (Product Sales) and have not sold their property (EXITS) or drawn down the LTV (NON-EXITS) minus Customers that have drawn down their LTVs and whose properties have subsequently been sold through the Plan (NON-EXIT SALES).