How it works (5 Steps)

  • STEP 1. Submit an Application to see if the CHAIN FREE® Home Owners Plan™ + Profit Share is available for the house you are selling and the High Street or Online Estate Agent for your post code – your house must have a current Market Value of no more than £500,000 (you tell us what you think your house is worth)
    and not been on the market for sale during the last 12 months. See: Road Map
  • You receive an Application Approval email with our indicative Fall Back Price® based on your selected Estate Agents Opinion of Valuation (subject to our Surveyors inspection) with the contact details of the Estate Agents you have chosen to sell your house. This Email also contains your URN (Unique Reference Number) which you will need to login in order to join the Plan and pay our Administration Fee (Plan Membership is for one year).
  • IMPORTANT POINT: You agree a Sale Fee with the Estate Agents you selected which you will only have to pay if they sell your house and you do not draw down the Fall Back Price®. If you draw down the Fall Back Price® we instruct the High Street Estate Agent to sell your house and we pay their Sale Fee.
  • If you want our surveyor to inspect your house so we can give you a guaranteed Fall Back Price® you must within 4 weeks from your Application become a member of the CHAIN FREE® Home Owners Plan™ (See: Membership) and pay our Administration Fee.
  • IMPORTANT POINT: 4 weeks from your Application for you to decide if you want a guaranteed Fall Back Price® to help you secure your next property for the lowest price whilst your Estate Agents are trying to sell yours for more than their Opinion of Valuation.
  • STEP 2. You login to join the Plan and pay our Administration Fee through Worldpay. See:  Payment

Option 1 £298: Internal Inspection for Fall Back Price® of 90% Surveyors
Valuation with the advantage of VAL FREE® for your buyer + Profit Share and 1% Membership Fee.

Option 2 £121: External Inspection for Fall Back Price® of 80% Surveyors
Valuation + Profit Share. No Membership Fee

  • STEP 3. You receive the Surveyors Valuation (with the most recent sale prices achieved for 3 comparable local properties) and Finance Documents which you sign and return (to accept our guaranteed Fall Back Price®).
  • IMPORTANT POINT: With the guarantee of the Fall Back Price® you can now negotiate the lowest price for the property you want to buy (you do not have to draw down the finance to do this) because you can tell the seller’s Estate Agent that you are not in a chain (you know that you can draw down the Fall Back Price® in 3 days if you can’t wait to sell your house for more).
  • If you sign the Finance Documents to accept our guaranteed Fall Back Price® for the house you are selling there is a Fee of 1% of the Fall Back Price® (minimum £1980) which you must pay into the Plan in up to one year.
  • IMPORTANT POINT: No Sale – No Fee
  • If you sign the Finance Documents you have no commitment to draw-down the Fall Back Price® or to sell your home for less than Market Value.
  • You can draw down the Fall Back Price® at any time during 75 working days (15 weeks) following our Surveyors Valuation.
  • At the end of 15 weeks you can apply for a further 15 weeks on payment of an Additional Administration Fee (Option 1: £100; Option 2: £298) to have your house re-valued so a revised Fall Back Price® and 1% Fee can be calculated. Please Contact Us for details.
  • IMPORTANT POINT: We pay your Estate Agent a Success Fee if you do not draw down and they sell your house for at least their Opinion of Valuation during your Membership of the Plan (Plan Membership is for one year from the date you logged in to join the Plan).
  • If you want to draw down the Fall Back Price® you will be sent Drawdown Documents.
  • We do not buy your house: the Drawdown Documents include a Sale Contract (our Legal Department will add the buyers name) and Transfer for you to sign so that your house can be sold.
  • When you draw down the Fall Back Price® you must contemporaneously give us vacant possession and pay off any outstanding mortgages (which you can do with the Fall Back Price®) so that our bankers can secure a first charge. Your solicitors must also confirm you have advised them that your house had not been on the market for sale during the 12 months proceeding your application to Albani.
  • You have no personal responsibility to repay the the Fall Back Price® even if your house is sold for less.
  • IMPORTANT POINT: We return the Administration Fee if after our Surveyors Valuation we do not offer you a guaranteed Fall Back Price® at 90% (Option 1) or 80% (Option 2) Surveyors Valuation (provided there is nothing untrue or inaccurate in your Application Form), if your house does not have a Land Registry Title Number or if we do not send you the Financial Documents to sign.
  • The Drawdown Documents prepared by our Legal Department are in a standard form and cannot be altered.
  • STEP 4: You have drawn down the Fall Back Price® and your house is sold for more than Surveyors Valuation.
  • IMPORTANT POINT: If the Sale Price of your house exceeds Surveyors Valuation you will receive 80% Profit Share (difference between Sale Price and Surveyors Valuation) with no deductions whatsoever (our Legal Department will send your Profit Share to your solicitors within 5 working days of completion of contracts).
  • STEP 5: Any Additional Rate of SDLT on the property you are buying is paid to your solicitors by the Plan within 5 working days before completion (Albani Legal Department will give your solicitors their undertaking to this effect See: Plan Benefits at Membership).  
  • If you need advice as to whether you should take CHAIN FREE® or any other financial product you must consult a solicitor, broker or financial adviser. See: Treating CHAIN FREE® Customers Fairly

Our typical rate for CHAIN FREE® is 12.3% APR.

If you have any questions please Contact Us

ANY LOAN WILL BE SECURED BY A CHARGE OVER THE PROPERTY YOU ARE SELLING. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.