You are here: Home - News -

Property firm ordered to remove misleading ‘fast sale’ claims – ASA

by: Christine Toner
  • 05/04/2017
  • 0
Property firm ordered to remove misleading ‘fast sale’ claims – ASA
A property firm which claimed to buy houses at 100% of their market value has been told to remove the claim from its website after the Advertising Standards Agency deemed it misleading.

BGIS Trading Ltd, tdoing business as Chris and Leon Buy Houses featured an advert on its website which stated: “Need To Sell Your House Fast? Negative equity? … Unlike other companies, we can pay up to 100% market value for your house! … Sell Your House For Cash … Up to 100% of market value … Houses bought for cash”.

However, the ASA found the claim primarily applied to houses bought by Chris and Leon Buy Houses through a delayed completion model. The seller of the property would receive a nominal upfront payment but the sale would be delayed, allowing the property value to recover. In the meantime the mortgage payments, maintenance and costs of the property would be paid by Chris and Leon Buy Houses or one of their partners. The seller would receive the agreed sale price at the end of the delayed completion period.

The ASA said the website advert suggest 100% value would be offered on all house purchases while mentions of selling your house ‘fast’ suggested payment would be received quickly and as a result the firm was banned from using the advert.

There are 0 Comment(s)

You may also be interested in

  • RT @VickyHartleyMS: Sunak doubles incentives to £3,000 to take on apprentices and offers £126m in 'new cash' to triple traineeships. One to…
  • RT @VickyHartleyMS: Watch out for breaking news coverage on the #Budget2021 this afternoon from the best UK mortgage and property journalis…

Read previous post:
‘Be prepared for anything’ – The Brexit effect and lender risk

Now the UK has set off on the formal path to leaving the EU, after Article 50 has been invoked,...