CHAIN FREE®

How it Works

  • {{chain_free_deadline_to_submit}}
    • What are Chains?
    • You check if CHAIN FREE® is available in your town.
    • You decide if you want CHAIN FREE® (available through the Home Owners Plan™)  so you can say you are a Cash Buyer for a 20 week Facility Period (starting on the date of our Surveyors Valuation) to give you time to negotiate the best price for the property you want to buy while your own Estate Agents are selling your house for your Asking Price (you never have to sell for less than Market Value). See: Treating Customers Fairly
    • The Plan
      • Is not a vuture fund offering to buy your house at a knockdown price (the Plan does not buy your house).
      • Is not a last-ditch solution if you are a desperate seller (The Plan is an insurance type arrangement to help you to Sell for your Asking Price and to Buy for the best price).
    • Cost of joining the Home Owners Plan™
      • 1% Fee (Plan Membership Fee: 1% Fall Back Price® min. £1,980 payable in up to 1 Year).
      • You can recoup the 1% Fee and do not have to take out finance (the Fall Back Price®) and you do not have to sell your house. An Example
      • £298 Administration Fee.
    • OPTION 1
      • Houses with current market value no more than £500,000
      • Fall Back Price® 90% Surveyors Valuation
      • 20 week Facility Period (extendable to 40 weeks).
    • OPTION 2
        • Houses with current market value over £500,000
        • Fall Back Price® 85% Surveyors Valuation (case-by-case)
        • 20 week Facility Period (extendable to 40 weeks).

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

    • We send you an Application Acceptance Email with links so you can view our Offer Documents incl Plan T&Cs on-line.
    • IMPORTANT POINT: You can now progress at the speed recommended by your chosen Estate Agents (we do not recommend or promote any firm).
      • Give your Estate Agents enough time to test the market before you decide to join the Plan. See: Benefits
      • The Plan does not buy your house and you never have to sell for less than Market Value.
      • No point in having the insurance arrangement of CHAIN FREE® with a Fall Back Price® (available through the Home Owners Plan™) if you think you will quickly sell your house for the Asking Price and won’t lose the house you want to buy.
      • Most home owners will use CHAIN FREE® to negotiate the best price for their next house (recouping our 1% Fee)  and will not need to take the Fall Back Price® (because their Estate Agents will have sold their old house for their Asking Price).
  • {{chain_free_deadline_to_join_plan}}IMPORTANT POINT: This date and all the following dates are illustrative.

    You decide with your Estate Agents if and when the time is right to join the Plan.

    Your Estate Agents have had 4 weeks to test the market so this is the earliest date by which they might know if your house will quickly sell at your Asking Price.

    You have paid our Administration Fee and our Valuation Surveyors have contacted you to agree a convenient date to inspect the house you want to sell (they generally need about 3 to 4 days notice).

    This is also the earliest date you asked our Valuation Surveyors to carry out their property inspection (the start of your 20 week Facility Period).

  • {{chain_free_deadline_to_receive_documents}}We send you our Valuation Email with a link to a webpage where you can see the Valuation of the house you are selling, our offer of a Fall Back Price® and our Offer Documents which include the Plan T&Cs which will now all be in your name.

    If you want to proceed they can be signed on-line (we also ask you for the contact details  of your solicitors so if you want to proceed they can also access our Offer Documents).

    You sign the Offer Documents on-line.

    You are now a member of the Plan (and do not have to take the Fall Back Price® and do not have to sell your house).

    • When you are a member of the Plan (during your 20 week Facility Period) you can say you are a Cash Buyer:
      • You have time to sell at your Asking Price.
      • You can buy at the best price.
      • You can find the right mortgage.
    • See: Benefits
  • {{chain_free_deadline_to_draw_down}}The end of your 20 week Facility Period (extendable to 40 weeks).
    • IMPORTANT POINT: If during your Facility Period you want to take the Fall Back Price® (because you can’t wait to sell your house for your Asking Price) your solicitors will access the Drawdown Documents and submit a Drawdown Notice on-line.
      • Because 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 your house can be sold through 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®).
      • IMPORTANT POINT: If you take the Fall Back Price® you do not have to pay your Estate Agents a Sale Fee (we have not bought your house), the Plan will re-instruct your Estate Agents to sell your house through the Plan and the Plan will pay them a 1.5% Resale Fee.
    • No sooner than 1 week before the end of your 20 week Facility Period you can make an Application for an Additional Facility Period of a further 20 weeks (Contact us for payment of £59 Additional Administration Fee). See: Ethical Finance for details.Our typical rate for CHAIN FREE® is 12.1% APR
      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 Surveyors Valuation.

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