CHAIN FREE®

Treating Customers Fairly

  • IMPORTANT POINT: You will never have to sell your house for less than Market Value (the Market Value of your house is the highest offer your Estate Agent receives after proper marketing for sale when no higher offers have been received resulting in an exchange of contracts).
  • When you join the Home Owners Plan™ and receive our signed Offer Documents:
    • Albani is irrevocably legally committed to provide the Fall Back Price® for 20 weeks (extendable to 40 weeks).
    • You are not legally committed to take the Fall Back Price® (or to sell your house).
    • IMPORTANT POINT: Your will only have to take the Fall Back Price® when your solicitors send our Legal Department a Drawdown Notice (in this event your house will be sold through the Plan):
      • You will not have to pay your Estate Agents a Sale Fee (we have not bought your house).
      • The Plan will reinstruct your Estate Agents to sell your house and the Plan will pay their Sale Fee.
  • We will return the Administration Fee:
    • If during the Cooling Off Period you ask us to do so.
    • If after our Valuation Albani does not offer you a Fall Back Price®.
    • If after offering you a Fall Back Price® Albani does not sign the Offer Documents.
    • If your solicitor informs our Legal Department that your house does not have a Land Registry Title Number.
  • IMPORTANT POINT: You can:
    • No sooner than 1 week before the end of your 20 week Facility Period make an Application for an Additional Facility Period of a further 20 weeks (a total of 40 weeks).
      •  When you contact us for details we will:
        • Ask you to pay an Additional Administration Fee of £59 incl. VAT.
        • Have your property for sale revalued so that a Revised Fall Back Price® can be calculated (Option:1 90% Surveyors Valuation; Option:2 85% DataSource Valuation) and offered to you.
    • If you have chosen Option:1 (90% Surveyors Valuation and 1% Fee):
      • You will not have to pay any additional Fee (1% of the Fall Back Price®) if the Revised Valuation and Revised Fall Back Price® are higher.
      • If the Revised Valuation is lower the 1% Fee will be adjusted so that it is 1% of the Revised Fall Back Price®.
    • Return to your house after taking the Fall Back Price® and retain ownership providing you repay us the Fall Back Price® before your house is sold (you gave us vacant possession). No Charges – No Costs.
    • Rent your house after taking the Fall Back Price® and before it is sold (useful if your new home is not ready). Please Contact Us for details.
  • Although our finance (the Fall Back Price®) is interest-free and non-recourse (you have no legal obligation to re-pay the Fall Back Price®) we have to show the APR and include a warning statement about repossession:
    • Please see APR? which explains what this means.
    • Your house cannot be repossessed as our finance is not secured upon it.
  • Our Valuation Surveyors are members of the Royal Institute of Chartered Surveyors (RICS).
    • Now the government has lifted some coronavirus restrictions our Valuation Surveyors inspecting your property for sale (Option 1: 90% Surveyors Valuation) will:
      • Wear a protective mask and gloves
      • Comply with recommended social distancing
      • Follow RICS guidelines
  • If your house is not freehold, does not have a Land Registry Title Number and does not have an EPC we will not be able to provide CHAIN FREE® and you will not be able to take the Fall Back Price®.
  • Our Offer Documents and Drawdown Documents (which include a Sale Contract – our Legal Department will add the buyers name – and Transfer for you to sign) are prepared by our Legal Department and are:
    • in a standard form and cannot be altered.
    • accessible on-line and subject to HM Land Registry can be signed electronically.
  • Regulation:
    • Albani Limited is Authorised and Regulated by the Financial Conduct Authority (FCA) Reference No. 457682
    • CHAIN FREE® is not a regulated loan.
      • Regulated loans are those on a property the “home owner” is living in or going to live in.
      • When you take our finance (CHAIN FREE® Fall Back Price®) which you can use to pay off your mortgage your house must be contemporaneously empty and vacant.
  • You can decline permission to Albani to share information. Please see our Privacy Policy.
  • Should you require advice as to whether you should take CHAIN FREE® you must consult a solicitor or financial adviser (Albani Legal Department is available at legaldepartment@albani.finance to answer their questions or they can Contact Us).
  • All complaints will be handled personally by the CEO (complaints@albani.finance).
  • 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).