Home » Estate Agent – CHAIN MENDER® Questions

Estate Agent – CHAIN MENDER® Questions

  1. Who can we discuss your proposition with?
    • Please call our CEO (and Founder), Anthony Apponyi DD: 01491 641 362.
  2. What is the customer proposition?
  3. What are our Fees?
  4. What about regulation?
    • CHAIN MENDER® is not a regulated product
      • Albani is authorised and regulated
      • You give no advice and no recommendation only information
      • No Valuation
      • You only submit an Application
      • Regulation
  5. What is CHAIN MENDER®?
    • CHAIN MENDER® is a Facility Letter with the guarantee of a Provisional Price™ (85% Surveyors Valuation) for the house your client is selling.
      • They can drawdown (take) the Provisional Price™ at any time during a 3 week Facility Period on 5 days notice.
      • IMPORTANT POINT: Your client’s solicitor must confirm to us they are holding a current Sale Contract for the property their client wants to buy otherwise they will not be able to take the Provisional Price™.
      • If Plan Company sells their house for more than Surveyors Valuation Plan Company will give them an 80% Profit Share (with no deductions).
  6. What’s the difference between CHAIN MENDER® and bridging finance?
    • No possibility of your client loosing their home
  7. Why would our clients want to sell for less than MV?
    • With CHAIN MENDER® they won’t have to.
  8. Catch 22 – any price you offer will be lower than we can recommend they sell for?
    • IMPORTANT POINT: In no circumstances do your clients have to sell for less than a price you recommend (MV)
      • If your client decides to take Albani finance (Provisional Price™) it will be MV as you have been unable after proper marketing to sell their house resulting in an exchange of contracts for more.
  9. Sellers won’t want it until they need it, when a sale goes wrong or if they can’t sell for more?
    • IMPORTANT POINT: That is the whole point of CHAIN MENDER® (a chain-mending solution).
      • The homeowner’s solicitor must be holding a current sale contract for the property their client wants to buy.
      • See: How it Works
  10. How do you handle misconnect between valuations?
    • We do not require Estate Agents to provide a valuation
      • Our RICS valuations are for mortgage purposes
      • Valuations that are too optimistic/pessimistic benefit no one
      • Our Panel Managers work with Valuers to ensure accuracy and consistency
      • Our in-house Valuation Auditor carries out checks to prove the process if challenged
      • Contemporaneous valuation audits by reference to database records
  11. If the seller draws down the Provisional Price™ there will be a mortgage on their house when they make a mortgage application for the next property?
    • The new lender will ask them if they already have a mortgage.
      • Your client must answer “Yes” because a lender will ask them on completion “if there are other loans secured against another property?”
      • Because your client has  said “Yes” the lender will ask for details. Your client should say that they “have non-recourse finance from Albani and therefore no mortgage or home loan commitment.”
  12. Our agency achieves fast sales?
    • If your clients wants CHAIN MENDER® it is because you have been unable to sell their house at their Asking Price
      • Your clients desperately want to secure their next home with a Fast Sale (we do not buy their house) and Profit Share
  13. Sellers who buy their next house before you have sold theirs will have to pay a higher rate of SDLT on the second property?
    • No
      • Sellers will only pay the Standard Rate of SDLT
      • We undertake to pay any Additional Rate of SDLT on the second property the seller buys
  14. How do we get the home owner to chose our firm over the competition?
    • IMPORTANT POINT: Making an Application will help to secure your client
      • We do not provide home owners with names of Estate Agents, we are impartial and do not recommend or promote any firm
      • Every month we advertise in Estate Agency Today, Property Eye and Negotiator and Email and text message financial introducers, 4,000+ high street  Estate Agents and 1 Online Estate Agent with details of our products so it is up to the individual firm to decide which one is suitable for clients selling and applicants buying
  15. What happens when our client takes the Provisional Price™?
  16. Tell me about the Online agent?
    • The Online Estate Agent must have on ground representation and accept (Only)
      • Responsibilities at Drawdown Date (to attend the property to verify that the sellers house is empty and vacant so that the Provisional Price™ can be remitted to their solicitors
    • Your Fees 
  17. Why have both online and high street agents?
    • So sellers can chose the Estate Agent (Online or high street) that suits them
      • We only work with 1 Online firm (a firm that has on-site representation)
  18. When will our client have to sell their home?
    • No
      • Your client will only be legally committed to sell their home when their solicitor completes our Drawdown Notice with required documents
  19. When is Albani committed?
    • When your client receives the Offer Documents signed by us we are irrevocably committed to provide the Provisional Price™
      • Your clients solicitors can obtain verification of our financial credentials from our Legal Department by quoting their URN (on the top of all correspondence from us).
      • Our Legal Department is at legaldepartment@albani.finance or they can Contact Us
  20. What happens if our client is in a chain that has not broken?
    • CHAIN MENDER® is a chain mending solution so you can only offer them CHAIN FREE®
  21. How do you protect your integrity?
    • IMPORTANT POINT: We do not take fees or commissions from third parties (this applies to all products and services on our platform including those accessible at SMART MOVE®
  22. Suggestions for improving the estate agent and customer proposition?

 

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