A QUICK SALE JOINS PROPERTY BUYERS ASSOCIATION TO PROVIDE BETTER SECURITY FOR CUSTOMERS
A Quick Sale pledge to drive up Sale-and-Rentback standards
A nationwide property investment company is one of the founding members of a new property industry trade association, aimed at increasing regulation and consumer assurance.
A Quick Sale, which has a network of 78 offices covering the whole of the UK offering solutions to people looking to sell their homes quickly, is part of The Property Buyers Association (PROBAS), which was formally launched this week.
The Association’s creation follows discussions between leading players in the Sale-and-Rentback sector and other interested stakeholders including the Treasury and the Citizens Advice Bureau.
A Quick Sale has been publicly calling for regulation in the sector and has implemented a number of initiatives within their own organisation to give greater transparency and assurance to customers. This includes the launch of the
A Quick Sale Customer Charter in April 2007, which sets out A Quick Sale’s promise to its customers.
In October, A Quick Sale also launched a Tenancy Guarantee Agreement, which is a legally binding document pledging A Quick Sale will renew homeowners-turned-tenants’ Assured Shorthold Tenancy Agreements on a rolling basis for a pre-agreed period of time (e.g. five years). In addition, the agreement guarantees that the rent will not be increased above the initial rental amount to a sum in excess of market rates. To underpin A Quick Sale’s commitment to the agreement, the company promise to pay substantial compensation if, in the unlikely event, the terms are not honoured.
Richard Watters, Managing Director of A Quick Sale, said: “There has been widespread concern from consumer protection agencies about the nature of the sell and rent back industry and, unfortunately, there are organisations within our sector that are less than scrupulous in their standards of practice. As a company that operates to very high ethical and service standards, I’m delighted that A Quick Sale has been instrumental in helping take the next step towards regulation with the introduction of PROBAS.
“Greater protection for the consumer is vital and I hope A Quick Sale’s membership of PROBAS will give potential customers greater confidence that they are dealing with a reputable company that provides appropriate protection and recompense. For people looking for more information on sell and rent back, we’ve also produced a free guide, which is available by visiting www.a-quick-sale.co.uk/guide or by calling 0800 328 8239.”
The Property Buyers Association (PROBAS)
Compliance with a strict Code of Practice is a requirement for all members of PROBAS. The principle of transparency underpins both the Association and its Code of Practice, with all PROBAS members being required to provide consumers with ‘Key Facts Information’, written in plain English, in line with the Financial Services Authority’s policy on ‘Treating Customers Fairly’.
All PROBAS members will be provided with a full range of benefits including information-sharing, networking events and an ‘early warning service’ about any possible changes under consideration in Westminster or Whitehall, which might affect their businesses in the future.
Further information about PROBAS can be obtained via:
PROBAS’s Code of Practice is available on this website