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 Speed Property Buyers and whether you should trust them to sell your property quickly and whether they’ll give you an optimal price.
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Company
Trading Style of Future Planned Relocation Services Ltd
Established in
2008
Members of NAPB
Yes
Members of TPO
Yes
Registered with ICO
Yes
Approved by CTSI
Yes
Will “Speed Property Buyers” 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
28 days
Fastest sale time
3 – 5 days
Availability
Not listed
Complaints procedure
Not listed
Customer service
4.8 / 5
Google rating
5 / 5 (2 reviews)
Trustpilot rating
N / A
Reviews.co.uk rating
N / A
Feefo rating
N / A
4.8 / 5
(source: Companies House)
Speed Property Buyers claims to be the UK’s favourite property buyer (although there is no evidence presented on their website to back this up).
They will buy any home, anywhere, and, as their name suggests, the specialise in very rapid transactions, with cash in your account in as little as five days.
Speed Property Buyers describe themselves as a small, friendly property cash buying team and they pride themselves on honesty and transparency. They say that they have bought and sold thousands of properties over the years.
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 sell your home fast, with an open, transparent process backed by years of experience.
Speed Property Buyers 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 rapid, no-obligation quote in just 24 hours and purchase your property in as little as 5 working days.
This type of sale is perfect for people in a rush, or those who are facing significant losses through repossession.
Speed Property Buyers are well established, having been first registered in 2008. Maintaining a strong position for so long, in such a competitive market, is an admirable achievement.
Their service appears to be simple and straightforward, although their website does lack some key information, such as typical offer rates and whether or not they buy homes with their own cash.
They are a small team and seem to have a strong focus on customer service, with their website stating that their aim is to offer ‘the best customer service in the industry’. However, we were unable to find many independent reviews on sites such as Trustpilot that would back up this claim.
They appear to live up to their name with speedy transactions, buying properties in as little as 5-7 working days, but you can also take longer if that suits your circumstances.
There appear to be no fees, charges or commission to pay for their service. The costs are all included in the reduced offer price.
It’s important to remember:
You won’t get the full market value of your property, especially when asking for a very fast purchase, but you will sell quickly and easily.
A typical estate agent will take 6-9 months whereas a fast home-selling company can do it in mere days. You’ll be sacrificing a negotiable percentage of cash for an exponential increase in speed-of-sale and a major reduction of headaches and legal complications.
Whether this is right for you will depend on your individual circumstances, and your cash home buyer should explain your options to you without obligation.
Yes, Speed Property Buyers is a member of NAPB.
Speed Property Buyers was one of the companies that founded this initiative, and this speaks well of their commitment to their customers and to their desire to be part of a fair and open house buying industry.
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’.
Yes, Speed Property Buyers is a member of TPO.
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 Speed Property Buyers.
These companies have to adhere to a strict ‘Code of Practice for Residential Buying Companies’.
Yes, Speed Property Buyers (as Future Planned Relocation Services) have been registered with the ICO since 2009.
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, Speed property Buyers 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.
They are somewhat GDPR compliant.
From our independent investigation, we discovered that Speed Property Buyers has a published cookie policy and privacy policy available on their website.
However, we did find that Speed Property Buyers does install certain marketing cookies that aren’t necessarily GDPR friendly. Such cookies are used for marketing and re-targeting purposes, such as displaying relevant ads.
They also say that they will share your data with the rest of their group as well as with third parties, such as business partners and advertisers.
However, they are registered with the Information Commissioner’s Office, which offers certain protection and policing of data use and storage.
Users are urged to err on the side of caution when providing personal information, and always read any cookie agreements before clicking your consent.
It’s not certain whether Speed Property Buyers have cash on hand. They do not say where their funds come from on their website, and do not make any claims to be buying properties with their own cash.
Our team of investigators found one of their investment vehicles within Companies House.
This allowed us to validate that they do have government-verified transactions, however their last government-verified transactions was delivered in July 2022.
That’s why we cannot state for certain whether or not Speed Property Buyers currently have cash on hand.
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.
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 government verified transactions.
Yes, Speed Property Buyers have traded for more than 5 years.
They have been in this industry since 2008.
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.
If they’ve traded for more than 5 years, then this is a minor but still a notable vote of confidence. And it needs to be acknowledged.
Speed Property Buyers do not state their typical offer on their website. Instead they encourage you to get in touch directly to find out what they can offer.
Their comparison chart uses a figure of £80,000 against a £100,000 property, which would suggest an average offer of around 80%, which is fairly standard for the industry.
However, Speed property Buyers also appear to specialise in very fast property purchases. In our experience, fast house sales within 7days are a much bigger risk for the buyer, as they do not have time to complete the full range of surveys and searches required for due diligence.
To cover the increased risk, you will normally be offered significantly less for your home if you want to sell this fast.
You may only get the full 80% suggested on the website if you are prepared to wait a few weeks until the buyer is more certain about your property’s value.
Getting 70-80% of the market value for your property when working with a fast home selling company is fair.
Of course this doesn’t mean that every home achieves that kind of valuation as it depends on a myriad of factors. Sometimes there are justifiable reasons why you may receive a lower offer.
We’ve discovered that with sub-par home buying companies you’ll often get between 60 – 65% and sometimes even less.
Speed Property Buyers do not make claims about their average sale time, however, they do offer ‘cash for your home in your bank account as quickly as 5 working days’.
Elsewhere on the site, the sale time is listed as 3-28 days.
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:
We didn’t find any charitable initiatives which Speed Property Buyers 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.
All that being said, it’s still important to acknowledge when a company cash home buyer genuinely supports a charitable cause.
We didn’t find anything that raises suspicion during our thorough research of Speed Property Buyers.
Our investigators sifted through all of the data and legal records of Speed Property Buyers 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, Speed Property Buyers 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 Speed Property Buyers 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 by using their freephone or landline number, or by completing their online enquiry form and requesting a call-back.
They also have an online chat feature that you can use to ask questions about their service.
We calculated their First Response Time (FTR) by messaging them at approximately 4 PM on a non-holiday weekday (on a Monday to be exact) and used a stopwatch to estimate how long it took them to respond.
Speed Property Buyers responded in 2 minutes and 6 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 Speed 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.
In this turbulent market, a fast home buying company should preferably have a formal complaints procedure on their website, where clients can express any disagreements, issues or just plain dissatisfaction with the overall service.
By having such a complaints procedure in place, the home buying company shows that they are willing to listen and if possible, rectify any problems that may arise.
Speed Property Buyers do not appear to have a formal complaints procedure detailed on their website.
However, they were a founder member of the NAPB and are members of the Property Ombudsman, so you would be able to raise a complaint through them.
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 Speed Property Buyers 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 Speed Property Buyers’ social media presence and online reviews.
We were unable to find many independent reviews for Speed Property Buyers on the main sites such as Trustpilot and Feefo. There are limited customer reviews on their website, but it is not possible to verify these independently.
None found.
We didn’t find anything suspicious with Speed 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.
Speed Property Buyers is a well established fast home sale company that boasts a strong track record.
They are members of the NAPB and TPO, and they are registered with the ICO.
They specialise in fast sale transactions, and they say they can put cash in your bank within just five working days.
They also claim to be very strong on customer service, with a small, dedicated team ready to help, sympathetically, when you need it most. The fact that they were a founder member of NAPB would appear to back this up.
However, they do not state their typical cash offer on their website, and offers may be very low for transactions as fast as five days, as there is considerable risk for the buyers.
The only way to find out what they may offer for your home is to get in touch and ask for a quote.
We will be continuously updating this review as we do with all of our other content. If Speed Property Buyers decide to alter, amend or modify something, then we’ll make sure to adjust our critique and score accordingly.
We want to help out as many people as possible. That’s why we created this comprehensive, in-depth Speed Property Buyers 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 Speed Property Buyers 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.
Speed Property Buyers 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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