CHAIN FREE®

How it Works

  • {{chain_free_deadline_to_submit}}
    • WHAT IS IT? CHAIN FREE® is a chain-avoiding insurance arrangement. See: Application (you cannot submit during coronavirus).
    • You can make an Application or an Estate Agent can do it for you.
    • You choose a high street Estate Agent in your town to sell your house (we do not provide a list of Estate Agents, we are impartial and do not recommend or promote any firm).
    • When the Application is approved you can join the Home Owners Plan™ to have the insurance of a Fall Back Price® while selling your house for your Asking Price (we do not buy your house).
    • CHAIN FREE® will make you a Proceedable Buyer able to tell the seller of the property you want to buy that you have the finance to do so before selling your home (you know if you can’t wait for your Estate Agents to sell your home at your Asking Price you can take our finance (the Fall Back Price®) by giving us 5 days notice at any time during your 20 week Facility Period (extendable to 40 weeks). See: An Example
    • WHO IS IT FOR? CHAIN FREE® is for you if your house has a current Market Value of no more than £500,000 and you need time to sell at your Asking Price and can’t proceed to buy your next property before selling your own.
    • If you take the Fall Back Price® from Albani you will not have to pay your Estate Agents a Sale Fee (neither the Plan nor Albani have bought your house). The Plan will instruct them to sell your house and the Plan will pay them.
    • IMPORTANT POINT: If the Sale Price of your house through the Plan exceeds the Valuation you will receive 80% of the Profit (Sale Price less Valuation) with no costs or deductions whatsoever.

    This is what happens if your Application is submitted today (you cannot submit during coronavirus):

    • You receive our Application Acceptance Email with a copy of the Application.
    • You have 4 weeks from the date of the Application to decide if you want to join the Home Owners Plan™ (Option 1 or 2).
    • IMPORTANT POINT: Your agreement to the Plan Membership Terms is conditional on your solicitors approval and your signing our Offer Documents.
    • During these 4 weeks you choose (if you have not already done so) a firm of high street Estate Agents to sell your house (no point in you having CHAIN FREE® if you are sure you will quickly sell at your Asking Price and don’t need a guaranteed Fall Back Price®).
    • OPTION 1
      • 1% Fee (Plan Membership Fee: 1% Fall Back Price® min. £1,980 payable in up to 1 Year  No Sale – No 1% Fee). You can recoup the 1% Fee and don’t have to take the Fall Back Price® or sell your home) See:  An Example
      • Fall Back Price® 90% Surveyors Valuation (property inspection)
      • 20 week Facility Period (extendable to 40 weeks)
      • £298 Administration Fee
    • OPTION 2
      • No 1% Fee
      • Fall Back Price® 85% DataSource Valuation (no property inspection)
      • 20 week Facility Period (extendable to 40 weeks)
      • £121 Administration Fee
  • {{chain_free_deadline_to_join_plan}}Last date you can join the Plan and pay our Administration Fee.
  • {{chain_free_deadline_for_surveyors_inspection}}Last date for our Surveyors Valuation (property inspection) of the house you want to sell (Option 1).
    • Your 1 Year Plan Membership and 20 week Facility Period (extendable to 40 weeks) start from the date of date of our Valuation.
  • {{chain_free_deadline_to_receive_documents}}We send you a copy of the Valuation and Offer Documents which include our offer of a Fall Back Price® and ask you for the name of your solicitors, so we can send them paper copies incl. the Plan Terms and Conditions for their approval.
    • IMPORTANT POINT: If you sign the Offer Documents you do not have to sell your home and you do not have to take the Fall Back Price®. See: An Example
    • From the date you receive our signed copy of the Offer Documents you can tell the seller and their Estate Agent you are Proceedable Buyer.
    • As a Proccedable Buyer with CHAIN FREE® and the insurance of a Fall Back Price® you will able make an offer and secure the property you want to buy before selling your own through your own Estate Agent for your Asking Price.
  • {{chain_free_deadline_to_draw_down}}Last date you can be a Proceedable Buyer and Last date you can take the Fall Back Price® (if you can’t wait for your Estate Agent to sell your house at your Asking Price) and end of your 20 week Facility Period.
    • IMPORTANT POINT: Only if you drawdown (take) the Fall Back Price® will your house be sold.
    • Because neither the Plan nor Albani 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 your house can be sold by the Plan. When you take the Fall Back Price® from Albani you must contemporaneously give us vacant possession and pay off any outstanding mortgages (which you can do with the Fall Back Price®).
    • Albani Limited is Authorised and Regulated by the Financial Conduct Authority (Reference No. 457682).
    • CHAIN FREE® is ethical finance. See: Treating Customers Fairly
      Our typical rate for CHAIN FREE® is 12.1% APR
      See: APR?
  • IMPORTANT POINT: On this website and in all Our Documents “days” mean working days and therefore “weeks” are illustrative (i.e. 1 week = 5 working days).
  • {{chain_free_facility_period_start}} to {{chain_free_facility_period_end}} = Facility Period of 20 weeks (i.e. 100 working days) from date of Valuation during which time you can take the Fall Back Price®.
    To extend your 20 week Facility Period to 40 weeks please Contact Us for details.

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