About PROBAS

The Property Buyers Association (‘PROBAS’) is the Trade Association representing members from property buying companies, including those in the ‘Sell and Rent Back’ sector. Our members buy and rent back thousands of residential properties each year.

PROBAS members adhere to the highest levels of transparency and ethical standards and have set themselves tough standards to reassure their customers that they act with integrity and openness in all their dealings. All our members are fully vetted by the Criminal Records Board.

PROBAS will give potential customers confidence that they are dealing with a reputable company that provides appropriate protection and recompense

Consumer groups, including Shelter, the Citizens Advice Bureau and the Council of Mortgage Lenders are campaigning for FSA regulation of this industry. PROBAS welcomes these calls to protect consumers and will strive to lobby and work with stakeholders to achieve responsible guidelines and statutory protection.

Whilst awaiting regulation, PROBAS members will adopt best practice procedures in line with the ‘Treating Customers Fairly’ initiative including;

·          Adhering to the PROBAS Code of Practice

·          Providing Key Facts Illustrations with all transactions

·          Providing literature in plain English

·          Establishing and Independent Complaints Procedure

·          Ensuring that consumers have separate legal representation

Following our launch in February 2007, over 200 companies have registered their interest in joining the Association, demonstrating the will of the sale and rent back industry to belong to an Association which will drive up standards.