Landlord Products / Services
If you’ve been won over by the glistening allure of avoiding the usual headaches of selling your home on the open market via an estate agent, and would prefer using a “cash buying company” to sell your house at warp speed with minimal effort, then hopefully you’ve done some due diligence, which has led you to realise that whichever company you decide to use, it must be a member of the The National Association Of Property Buyers (NAPB).
The National Association of Property Buyers (NAPB) is a voluntary association for cash buying companies, created to help improve standards in the industry and, in turn, provide sellers with assurances and peace of mind.
With the growing popularity and demand for professional cash buying companies – because they’ve made selling property easy-peasy lemon-squeezy – the inevitable dilemma is that the industry has become jam-packed with options, so choosing the right dance partner can be challenging. Moreover, it’s imperative to understand that the property cash buying industry is unregulated, which is why using a reputable company should be non-negotiable.
In short, this blog post covers:
- Why using a cash buying company that is a member of the National Association of Property Buyers (NAPB) is so important.
- My shortlist of NAPB members (i.e. which cash buying companies I like the most and why).
Page Contents
What is the The National Association Of Property Buyers (NAPB)?
The NAPB was setup by The Office of Fair Trading (OFT) and a few of the larger property buying companies in 2013. Essentially, they’re an association that cash house buyer companies can voluntarily join, to help build trust with their company and the overall the sector.
Not every cash buying company is a member, so needless to say, they are one’s best avoided.
Why Use a NAPB Member Cash Buying Company?
The property cashing buying industry is unregulated, so that means you will have little to no recourse if the proverbial shit hits the fan. However, using a company that signs up a redress scheme like the NAPB resolves that issue.
- In order to to become members of the NAPB, companies are required to:
- Register with The Property Ombudsman (TPOS). This will ensure that sellers are treated fairly when they’re trying to sell their properties. Plus, if a company is a member of the TPOS, it means homeowners can make a complaint should they have any issues while selling their home.
- Guarantee high standards are followed, which are outlined in the NAPB’s code of practice.
- The National Association of Property Buyers (NAPB) is the only trade association in the “sell your house fast” sector.
NAPB Members: Who Are They?
You can take a gander at the full list of the members on the NAPB website. If a company is not listed, then they are not a member. Some of the more unscrupulous companies in the industry will claim they’re a member when they’re actually not.
You can also check the The Property Ombudsman (TPOS) members directory to verify membership of the The Property Ombudsman (TPOS). Similarly, if a company is not in the direction, then they are not a member of the TPOS.
Best NAPB Member: Which Should You Choose?
At the time of writing this blog post there are 50 cash buying companies that are a member of the NAPB. Yes, they must all abide by the NAPB’s strict code of practice (or risk facing sanctions), but in reality, some companies still vary in quality. This means there is still a need to narrow down a fairly hefty selection.
I would be remiss to make a blanket statement implying that all NAPB members are the same or that they all provide impeccable service. They are not, and they do not (although they are required to adhere to a strict code of conduct governed by both the TPOS and the NAPB).
I’ve never used any of these companies, so I can’t recommend any of them based on personal experience. However, I have reviewed most of the 50 (when researching for my first blog post on cash buying companies some time last year) in order to create a shortlist of companies I would strongly consider using myself, if I required the service. I tried to be as objective as possible, but you should still always carry out your own due diligence.
When shimmying through all the various NAPB members, I ensured they all met the following prerequisites:
- Genuine cash buyer – they will buy the property directly, and therefore don’t need to source a buyer (and essentially act as a middleman) or secure finance before being able to purchase your property, like many of the other cash buying companies do (this can massively slow down the process).
- Professional and functional website
- Highly rated on impartial review/rating platforms (e.g. Feefo, TrustPilot, Reviews.co.uk etc.)
- Competitive and realistic cash offers (between 75% – 85% market value)
- Transparent contact details, including physical premises
- Registered company on Companies House
- Reputation (as in, they didn’t open their doors last week and start trading)
Now, before anyone swallows their tongue in a fit of rage, I want to clarify that I’m not saying that anyone that isn’t listed isn’t a good option! I’m just saying they didn’t make my personal shortlist, and I’m not even saying that I didn’t make a bad call somewhere along the line either. I probably did.
Anyways, without further ado, this is the list I ended up with…
| Service | Rating | Features | Offers (up to) | |
|---|---|---|---|---|
My Homebuyers Top Pick | Rating TrustPilot Reviews | Features
| Offers (up to) 80-85%of Market Value | Get cash offer |
Home House Buyers | Rating Reviews.co.uk | Features
| Offers (up to) 80-85%of Market Value | Get cash offer |
House Buy Fast | Rating feefo Reviews | Features
| Offers (up to) 85%of Market Value | Get cash offer |
Property Solvers | Rating TrustPilot Reviews | Features
| Offers (up to) 75%of Market Value | Get cash offer |
Please note, I try my best to keep the information of each service up-to-date, but you should read the T&C's from their website for the most up-to-date and accurate information.
Due Diligence When Choosing a Cash Buying Company
When choosing a cash buying company, I personally believe that membership of both the National Association of Property Buyers (NAPB) and The Property Ombudsman is one of the most important factors to consider.
However, it is not the only important factor. For example, you should also ensure the terms of service meet your expectations. For a more in-depth guide on how to navigate the murky waters of the cash buying industry, you may want to jump over to my complete guide on Cash Buying Companies.
Landlord out xo
Disclaimer: I'm just a landlord blogger; I'm 100% not qualified to give legal or financial advice. I'm a doofus. Any information I share is my unqualified opinion, and should never be construed as professional legal or financial advice. You should definitely get advice from a qualified professional for any legal or financial matters. For more information, please read my full disclaimer.
