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.
    • IMPORTANT POINT: No point in having insurance of a Fall Back Price® if you are sure you will quickly sell for your Asking Price. What are Chains?
    • You decide if you want CHAIN FREE® (available through the Home Owners Plan™) so you can say you are a Cash Buyer while your own Estate Agents are trying to sell your house for your Asking Price.
    • You have the safty net of our Fall Back Price® which you can take during your 20 to 40 week Facility Period on 5 days notice (we do not buy your house).
    • OPTION 1
      • 1% Fee (Plan Membership Fee: 1% Fall Back Price® min. £1,980 payable in up to 1 Year  No Sale – No 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. An Example
      • Fall Back Price® 90% Surveyors Valuation (property inspection).
      • 20 week Facility Period (extendable to 40 weeks).
      • £298 Administration Fee.
      • See: Home Owners Plan™
    • OPTION 2
      • No Fee
      • Fall Back Price® 85% DataSource Valuation (no property inspection).
      • 20 week Facility Period (extendable to 40 weeks).
      • £121 Administration Fee.
      • See: Home Owners Plan™
    • IMPORTANT POINT: You make an Application or any Estate Agent can do it for you (you cannot submit during coronavirus).

    This is what happens if your Application is submitted today:

    • You receive our Application Acceptance Email with a link to a webpage where you can see a copy of your Application.
    • IMPORTANT POINT: You can now proceed at your own speed as your 20 week Facility Period starts on the date of Surveyors Valuation or DataSource Valuation (during which time you can be a member of the Plan, have time to sell at your Asking Price and can say you are a Cash Buyer).
  • {{chain_free_deadline_to_join_plan}}By this date your Estate Agent (they have had 4 weeks) should know if your house will quickly sell at your Asking Price and have discussed with you if you need to join the Plan (to sell with the safety-net of the Fall Back Price® and to buy at the best price).

    During these 4 weeks you might have decided on Option 1 or Option 2 and paid our Administration Fee.

    Our Valuation Surveyors (Option 1) will have contacted you to arrange a convenient date to inspect the house you want to sell (they will generally be able to do so within 3 or 4 days).

  • {{chain_free_deadline_for_surveyors_inspection}}The date you asked our Valuation Surveyors (Option 1) to carry out their property inspection.

    IMPORTANT POINT: The start of your 20 week Facility Period during which time you can be a member of the Plan (you can say you are a Cash Buyer and take the Fall Back Price® on 5 days notice if you can’t wait to sell for your Asking Price).

  • {{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 (we 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®).
      • You will not have to pay your Estate Agents a Sale Fee (we have not bought your house), the Plan will re-instruct them and pay their 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. See: Treating Customers Fairly for more 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 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