Looking to sell your property fast but not sure who to trust? Complete our contact form
Looking to sell your property fast but not sure who to trust? Complete our contact form
Critical Analysis:
When you’re selling your property, it’s of vital importance to know who you’re working with.
In here, you’ll find everything you need to know about My Local Property Buyer and whether you should trust them to sell your property quickly and whether they’ll give you an optimal price.
Want to hear who we recommend above My Local Property Buyer Sale?
We have independently investigated all the best cash home buyers in the UK.
We ranked them based on their cash offers, reliability, customer service and 15 more metrics.
And we discovered that ‘My Homebuyers’ are superior to ‘My Local Property Buyer’ in every regard.
My Homebuyers will give you the best genuine cash offer, without contracts and without any fees.
Click the button below to see exactly why we recommend My Homebuyers as your best option.
And how you can use the free Safe Connect™ programme to get VIP treatment from them.
Company
Established in
2020
Members of NAPB
Yes
Members of TPO
Yes
Registered with ICO
Yes
Approved by CTSI
No
Will “My Local Property Buyer” pay all of your legal fees?
Yes
Do they ask you to sign a contract?
No
Government verified transactions
Yes
Cash offer
Average sale time
Not stated
Fastest sale time
7 days
Availability
Not stated
Complaints procedure
Nothing listed on website
Customer service
4.6 / 5
Google rating
5 / 5
Trustpilot rating
4.4 / 5
Reviews.co.uk rating
N / A
Feefo rating
N / A
4.6 / 5
(source: Companies House)
My Local Property Buyer is a Scotland-only cash house buyer with over ten years’ experience of buying properties for cash north of the border.
My Local Property Buyer will take care of all necessary paperwork and legal requirements and pay all your fees making the process as easy and stress-free as possible for you.
They buy properties with their own cash, avoiding any of the delays or complications involved with getting a mortgage or similar finance. This means that they can buy your home within seven days if required, or on a timescale to suit you.
Whether all of that’s true, will be revealed in this review.
When working with them, they’ll buy the property from you at a price that satisfies both parties involved, and then sell it for a profit.
You’ll get a slightly below-market price but you’ll achieve a prompt and effortless sale with little bureaucracy.
My Local Property Buyer provides free cash offers, doesn’t seem to have estate agent or solicitors fees and guarantees the sale of any property in any condition.
They can give you a no-obligation quote in just 24 hours and purchase your property in as little as 7 days.
This type of sale is perfect for people in a rush, who don’t have time for unnecessary red tape.
Despite their inclusive name, My Local Property Buyer is only ‘local’ to you if you live in Scotland.
That said, with the significant differences in the way the Scottish property market works, compared to England and Wales, this local knowledge and expertise could be an advantage for sellers in Scotland.
My Local Property Buyer do not charge any commission and will cover the cost of your solicitor’s fees.
They buy with their own cash, in as little as seven days.
Rather than use a set percentage formula, My Local Property Buyer assess every home on its own merits to make you the best offer that they can in your individual circumstances.
It’s important to remember:
You won’t get the full market value of your property but you’ll sell it very fast.
In fact, this is by far the fastest way to sell. A typical estate agent will take 6-9 months whereas a fast home-selling company can do it in mere days.
You’re sacrificing a negotiable percentage of cash for an exponential increase in speed-of-sale and a major reduction of headaches and legal complications.
Yes, My Local Property Buyer is a member of NAPB.
The National Association of Property Buyers (NAPB) was specifically set up to protect homeowners looking to sell their houses for cash to a property buying company.
The NAPB continuously screens its members in order to see whether they’re maintaining the necessary business integrity, legality, professionalism and customer service.
It’s mandatory for all NAPB members to also register with The Property Ombudsman (TPO) and abide by the TPO ‘Code Of Practice For Residential Buying Companies’.
However, being an NAPB member itself, is completely voluntary. Nobody forces these cash home buyers to become members, they do it of their own volition.
Being an NAPB member shows that My Local Property Buyer is proactive and genuinely care about their customers.
My Local Property Buyer is regulated by TPO and strictly follows their code of conduct.
The Property Ombudsman (TPO) defends the interests of the public by investigating and addressing complaints of maladministration or a violation of rights.
It has been providing consumers and property agents with an alternative dispute resolution service since 1990.
TPO has a specific category for fast home sale companies, such as My Local Property Buyer.
These companies have to adhere to a strict ‘Code of Practice for Residential Buying Companies’.
Yes, My Local Property Buyer is registered with the ICO.
The Information Commissioner’s Office (ICO) is the UK’s independent regulatory body set up to uphold information rights.
The ICO also governs all forms of data collection and advertising intelligence.
By being registered with the ICO, My Local Property Buyer has to protect its customers’ data at all times.
The ICO also has a Free Online Checker where you can verify whether a company is registered with them or not.
As far as we can tell, Your Local Property Buyer is generally GDPR compliant.
They have a published privacy policy on their website that details what information is gathered about you, and how this information is used and stored.
They also have a published cookie policy on their website that details how cookies are used and how you can block them.
However, we did find that the website installs certain marketing cookies that aren’t necessarily GDPR friendly, and that these cookies may be installed without the consent of the visitor.
Such cookies are used for marketing and re-targeting purposes, such as displaying relevant ads.
My Local Property Buyer claims to have cash in hand to buy properties. This avoids a lengthy wait for a mortgage and also reassures the customer that the company are buying their house directly, and they are not passing on the property to a third party or trying to secure a sale in the background.
One way of checking whether this is true is to look for Government registered transactions with Companies House.
Our team of investigators found one of their investment vehicles within Companies House, however this only listed three transactions, all in recent weeks.
This could be simply due to the fact that they are using a different company name to track and register their other Companies House transactions.
Nevertheless, in light of these findings, we cannot say for certain whether My Local Property Buyer has ongoing funds to buy properties.
In general, we’ve discovered that very few fast home-buying companies actually have disposable cash on hand.
Most of them are unregulated small businesses or worse – individual opportunists pretending to be big organisations who deliberately mislead.
These companies don’t have their own cash but attempt to raise funds by low-balling their offer and getting finance off the back of the difference between their offer and the market value.
For this reason, it’s less risky to work with home buying companies that have lots of government verified transactions.
No, My Local Property Buyer have only been listed as a company since 2020, although they do claim to have ten years’ experience of buying homes in the Scottish property market.
We use the ‘over/under 5 years trading time’ as a metric to gauge whether a company is an established entity with a lot of experience under their belt or just a newly founded business that may have ulterior motives.
Not all newly formed companies are scams but it’s still important to check how long they have traded.
My Local Property Buyer do not have a formula or a standard percentage offer range.
Many property buying companies will offer you a set percentage below market value based on the information you give them, producing a figure which is often reduced at the last minute.
My Local Property Buyer takes a different approach, doing their own due diligence and taking every property on its own individual merit.
They discuss the property and your personal situation with you, visit the property and speak to a local RICS surveyor for your area to confirm their valuation.
Below you can see some of the perceived benefits of using My Local Property Buyer instead of a generic high-street or online estate agent.
Getting 70-80%% of the market value for your property when working with a fast home selling company is fair.
We’ve discovered that with sub-par home buying companies you’ll often get between 60 – 65% and sometimes even less.
With no typical offer quoted, it is not possible to say whether My Local Property Buyer gives reasonable offers or not in the context of fast home selling companies.
According to the latest Statista research, the average number of days taken to sell property in UK from September 2018 to November 2020 is 65 days.
This includes selling properties via estate agents, actions, fast-sale companies and everything else under the sun.
Again, this graph represents every single method of selling a property, combined together.
And because of the vast number of fast home sale companies in the UK, this number is considerably lower than what it would’ve been if it only were estate agents and actions.
Remember when it comes to speed of sale, nothing beats a quick home buying company:
My Local Property Buyer says that they can sell your house in seven days, or within a timescale to suit you. However, it is not certain whether this ‘seven days’ starts with their offer or your initial contact. Given the in-depth way that they assess homes, this could result in a longer sale time overall.
We didn’t find any charitable initiatives which My Local Property Buyer supports.
Nevertheless, some companies prefer to donate privately or anonymously rather than stating it publicly.
Supporting a charity is by no means proof that the home buying company in question is necessarily ‘good’. In fact, dodgy home buying companies might purposefully support and/or pretend to support a charity just to win brownie points and credibility in the eyes of the customer.
We didn’t find anything that raises suspicion during our thorough research of My Local Property Buyer.
Our investigators sifted through all of the data and legal records of My Local Property Buyer and everything was clean.
However, we’ll redact this paragraph at the first glimpse of dodgy practices.
We never stop researching and our unbending commitment to excellence doesn’t waver.
This paragraph is only valid up until the ‘Last Updated’ date of this review, which can be found at the top of this page.
As far as we are aware, My Local Property Buyer haven’t received any additional awards or prizes.
They haven’t won any competitions either.
There’s nothing more we could add.
To assess the overall user experience (UX) of mylocalpropertybuyer.co.uk we first analysed their website for ease of use and intuitiveness.
They make it very easy to get a free quote/cash offer for your property, although this may take a little longer than some cash house buyers.
The main contact point is through a ‘Get My Cash Offer’ button on the site. They also list a landline telephone number and n email address.
The website also has a chat feature to answer any questions you may have.
We calculated their First Response Time (FTR) by messaging them at approximately 9 AM on a non-holiday weekday (on a Friday to be exact) and used a stopwatch to estimate how long it took them to respond.
My Local Property Buyer responded in 45 seconds.
Which is much faster than the industry average. And a fast FTR is something we consider highly important, especially in this sector.
A faster response time suggests that the home-selling company is better equipped to deal with customer queries.
And if they’re better equipped to deal with customer queries, then it means they’re investing their resources where it matters the most.
It’s rare to see a customer-centric cash home buyer and the more we research My Local Property Buyers , the more they appear to be such.
We also asked if they offer some sort of ‘Client Satisfaction Guarantee’, and if yes, what would that guarantee consist of.
They currently don’t offer a Client Satisfaction Guarantee but they’re happy to help resolve any issues and problems, within reason, as soon as possible.
Also, they did go out of their way and offered additional help and advice which warrants acknowledgement.
My Local Property Buyer has a published complaints procedure on their website, detailing how to proceed if you have a complaint, and setting out a timetable for their response.
If you are still not satisfied after the last stage of the in-house complaint procedure you can request an independent review from The Property Ombudsman without charge, because My Local Property Buyer is a TPO member.
We believe that every fast home buying company should have a formal complaints procedure on their website to show that they are willing to listen to their customers and if possible, rectify any problems that may arise.
A legitimate quick home buying company that does what it promises shouldn’t have a problem letting you speak to their past customers.
Of course they need to have the permission of the individual involved and provide some kind of proof that it is a genuine past client of theirs.
We strongly encourage all our readers to ask to speak to a past client.
In this section, we’ll discuss what the public thinks of My Local Property Buyer and what online reviews the company has received.
Keep in mind that online reviews can be easily faked.
It works both ways.
The company in charge might hire fake review writers to write positive reviews.
Or on the other hand, their competitors might hire fake review writers to write negative reviews and tarnish the said company’s reputation.
Also, social media followers can be artificially inflated.
That’s why we deem this section as purely anecdotal.
Nonetheless, we use trained researchers with a sceptical eye to go through My Local Property Buyer’s social media presence and online reviews.
Our research team didn’t find any media mentions of My Local Property Buyer.
We didn’t find anything suspicious with My Local Property Buyers ’ social media, TV and online presence, nor with their customer reviews.
We also didn’t find anything suspicious with their domain rating and backlink profile nor their unique monthly search traffic.
My Local Property Buyer is one of the more recent additions to the cash house buying sector, having only registered as a company in 2020.
They only serve properties in Scotland, which may be an advantage for Scottish homeowners, as the property process is rather different north of the border.
They claim to have ten years’ experience in buying properties, and say that they buy with their own cash in as little as seven days.
Unlike other cash house buyers, each home is assessed comprehensively on its own merits before a cash offer is made. This may delay the process a little, but it may also improve your offer is your property is worth it.
They cover all costs and guarantee their final offer price for a quick and easy sale.
We want to help out as many people as possible. That’s why we created this comprehensive, in-depth My Local Property Buyer review.
If you are looking to sell your property extremely fast, message us through the live chat or send us an email.
Depending on your preference and circumstances, we’ll connect you for free with one of our strictly vetted, ethical partners.
It might very well be My Local Property Buyer or another more befitting company for your needs.
They will help you sell your property as fast as possible for the best offer you can realistically achieve.
They will take care of all of the legal processes and fees and you’ll get the cash straight into your account in as little as 7 to 28 days, depending on your circumstances and preference.
My Local Property Buyer is just one of the many fast home-buying companies in the UK.
In order to make sure you choose the right one, it’s best if you compare them all.
Look at their strengths & weaknesses, their pros & cons and make an informed decision.
It’s essential to know you’re in safe hands, that’s why we’re here to help.
Use our company comparison table to find a reliable and trustworthy service, and decide whether expediting the sale of your property is the right thing for you.
This review is being constantly screened by our investigator team and will be corrected in line with the emergence of new evidence.
If a company contacts us with a genuine and verifiable piece of information which supports their cause, then we’ll immediately redact the review and point to that information.
On the other hand, if we discover that a company which we’ve previously praised for a certain industry trait, starts to dabble in dodgy practices, we’ll also redact the review immediately.
We’ll point to our new findings and will adjust the table metrics and scores accordingly.
For this reason, make sure to take notice of the ‘last updated’ date at the top of this page.
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