CHAIN FREE®

What is it?

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  • CHAIN FREE® is a chain-avoiding insurance type arrangement which gives you a guaranteed price (the “Fall Back Price®”) for 20 weeks (which you can extend to 40 weeks) for the house you are selling (your house must have a current Market Value of not more than £500,000).
  • We do not buy your house.
  • IMPORTANT POINT: Joining the CHAIN FREE® Home Owners Plan™ will enable you to negotiate the price and secure the property you want to buy without having to sell your house or having to take the Fall Back Price®. See: An Example
  • CHAIN FREE® will make you a Proceedable Buyer.
  • A Proceedable Buyer is:
    • A cash buyer.
    • Someone who is selling their property in order to buy their next one and has accepted an offer for their current property. 
    • You, when you join the CHAIN FREE® Home Owners Plan™ and have the insurance of a Fall Back Price® for up to 40 weeks. See: How it Works
  • WHO IS IT FOR? Sellers who need time to sell their house for their Asking Price and can’t proceed to buy their next property until they have sold their own. See: Benefits
  • CHAIN FREE® is ethical finance available through the CHAIN FREE® Owners Plan™ to help you fast-track the buying and selling of your home (neither a bridging loan nor a regulated mortgage contract). See: Treating Customers Fairly
  • IMPORTANT POINT: Neither Albani Limited nor the Plan nor any company associated with Albani, its shareholders, Directors or management will buy your house.
  • CHAIN FREE® is an unregulated residential loan as confirmed by the Financial Conduct Authority (FCA). Regulated loans are those on a property you are living in or are going to live in.  
  • Albani Limited is Authorized and Regulated by the Financial Conduct Authority (Reference No. 457682).

The house you want to sell must:

  • have a current Market Value of not more than £500,000
  • be freehold with a Land Registry Title Number

Within the next 12 months we hope CHAIN FREE® will also be available for leasehold purpose built flats.

 

 

 

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.