CHAIN FREE®

How it Works

  • {{chain_free_deadline_to_submit}}
    • You check if CHAIN FREE® (for houses with a current Market Value of no more than £500,000) is available in your town.
    • You make an Application or an Estate Agent can do it for you.

    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™ (no point in having insurance of a guaranteed Fall Back Price® if you are sure you will quickly sell at your Asking Price).
      • To choose (if you have not already done so) a firm of high street Estate Agents to sell your house (only on sole agency).
      • To tell us the name of your Estate Agents (if you decide to take the Fall Back Price® your house will be sold through the Plan and we will reinstruct them and pay their Fees).
    • 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 do not have to take the Fall Back Price® and you do not have to sell your house. 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 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}}You join the Plan and pay our Administration Fee.
  • {{chain_free_deadline_for_surveyors_inspection}}Our Surveyors Valuation (property inspection) of the house you want to sell (Option 1) and 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 our Valuation of the house you are selling and our offer of a Fall Back Price®.

    We ask you for the name and Email address of your solicitors so if you want to proceed they can access our Offer Documents (which include the Plan Terms and Conditions and Drawdown Notice) for you to sign.

    • IMPORTANT POINT: When you receive the Offer Documents signed by us you can say you are a cash buyer (you do not have to take the Fall Back Price® and you do not have to sell your house) and have time during your 20 week Facility Period:
      • To sell at your Asking Price.
      • To buy at the best price.
      • To find the right mortgage.
  • {{chain_free_deadline_to_draw_down}}The end of your 20 week Facility Period (extendable to 40 weeks).
    • 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. See: Treating Customers Fairly for more details.
    • IMPORTANT POINT: If during your Facility Period your solicitors send us a Drawdown Notice that you want to take the Fall Back Price® (because you couldn’t wait to sell your house for your Asking Price) they will access our Drawdown Documents. These 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®).
      • You will not have to pay your Estate Agents a Sale Fee (we have not bought your house).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.

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