Upstix: Comprehensive Review 2024
Newcomers UPSTIX is a London-based Company that buys houses for cash founded in 2021.
A truly 21st-century company, they use online technology and algorithms to value properties. Their site also claims you’ll receive upwards of 85% of your property's value upfront, and that, should they sell your home for more than expected, they’ll give you a share of the profit as a bonus payment.
Not bad! But is it all true? Let's find out.
Based out of London, UPSTIX is a cash home buying company, that was established in 2021. They utilise modern online technology and algorithms to appraise properties.
They advertise offering at least 85% of a property’s value in upfront payment. Additionally, they promise to share any excess profits from the sale of your home as a bonus.
What you'll find in this article
In this article, we've put together the most comprehensive online review of Upstix.
Below is a listing of all the information you'll find in our review, so you can easily navigate the page quickly and pick which section you want to read.
Upstix - Main Details
Relative new kids on the block, UPSTIX is a London-based cash home-buying company that was established in 2021 by Gile Mckay and Robin Paterson. The company’s aim is to simplify the process of selling homes in a way that’s “quick, certain and transparent”. UPSTIX claims that it uses its institutionally-backed funds rather than third-party investors to buy homes in any condition and for up to 87% of the market value. Sellers receive an instant cash offer once they fill out the online form and, following agreements to proceed, the sale can then happen within seven days.
A primary difference of UPSTIX is that it uses smart technology, called iBuyer, to help it provide fast and—according to the company—more accurate valuations.
While several cash home buyers provide free legal and other services, UPSTIX doesn’t. You will have to pay for your own solicitor, but the company will provide you with a list of reliable and reputable solicitors if needed.
Another string to the UPSTIX bow is the surprising “second payment” possibility. While they’ll buy your house at a below-market price, if they sell it for a higher price than estimated you’ll get a split from the spoils in the form of a “bonus payment”!
Upstix Factsheet
*Data updated and correct as of 10/08/2024
Fact Check
- Number of employees?
- What is their aim to buy time-frame?
- How many sales have they agreed?
- Number Trustpilot reviews?
- Number of Google reviews?
- When were they incorporated?
- What are their Opening times?
- Which Locations do they buy in?
- Is a house inspection needed?
- What is their website?
Upstix
- 8 employees
- 7-28 days
- 4000
- 98 Trustpilot Reviews
- 5 Google Reviews
- Founded in 2021
- Weekdays 9am to 5:00pm
- UK
- Not required
- Upstix website
What Services Does Upstix Offer?
The main services offered by UPSTIX are instant cash offers, 100% cash purchase, chain-free sales, and the purchase of tenanted properties:
- iBuyer instant cash offer—UPSTIX uses advanced technology and algorithms to provide sellers with a quick, fair, and competitive cash offer for their home.
- 100% cash buyer—With UPSTIX's Smart Sale service, clients receive a guaranteed cash offer upfront. If the house sells for more than the initial estimate, the seller gets a share of the extra profit.
- Chain-break service—If your sale falls through due to a broken chain, UPSTIX will step in and buy your home at around 85-90% of its market value, negotiating with your estate agency and others involved.
- Sale of tenanted properties— UPSTIX guarantees a sale for tenanted properties without needing to end the tenancy. They typically offer about 15% below market value and can close the deal in as little as 7 days.
Is Upstix Legit?
UPSTIX is a legit company that registered with the Companies Houses in February 2021. They have a small team of employees who are based in the their London office and feature on their website. The company has been registered with The Property Ombudsman (TPO) since 2022, and are members of the Information Commissioner’s Office (ICO), the National Association of Property Buyers (NAPB) and the Property Redress Scheme (PRS).
On it’s website, UPSTIX claims that it has facilitated over 4,000 property transactions, worth over £1 billion. Though this is difficult to verify, a 2022 article in The Times highlighted that company CEO Giles Mackay raised £250 million from investors to launch the venture, implying they have the ready cash to buy and sell properties.
How Upstix Works
When you sell a house to UPSTIX, the overall process is similar to that of most quick sale property companies.
Here's how it works:
Step 1: Fill out an online form or call UPSTIX to share details about your property. You’ll receive an offer in principle within 24 hours.
Step 2: A RICS-qualified surveyor will independently assess and value your property. This may result in your initial offer being refined.
Step 3: UPSTIX handles the paperwork and finalises the sale though you will have to cover the conveyancing fees. Cash will be transferred to your account on the day of your choice.
Step 4: If UPSTIX sells your property later for more than their valuation, they’ll also share part of that profit with you.
The Pros And Cons Of Working With Upstix
As with all cash house buyers, there are advantages and disadvantages to working with UPSTIX. So on that note, let's review some of the pros and cons of working with this company:
The Pros
-
- Immediate cash offer: After filling in your property details in their enquiry form, UPSTIX sends you a no-obligation cash offer within 24 hours, using their iBuyer AI tech. They claim that this tech enables them to give sellers a fair and transparent valuation based on local markets, location, condition and the size of their property.
- Quick Sale: The company aims to complete sales within 7 days. They can do this because they buy your property outright with their own funds instead of relying on third-party investors.
- Offers 85-90% of market value: UPSTIX makes the bold claim on its website that it can offer around 10-15% less than market value for a quick sale. If this is true–great! However, most cash home buyers offer less than this to enable them to buy the property quickly and with a more streamlined selling process.
- Legitimacy and Transparency: As a newcomer to the industry, UPSTIX has gone out of its way to assure clients of their legitimacy and transparency by registering with The Property Ombudsman (TPO), the Information Commissioner’s Office (ICO) and the National Association of Property Buyers (NAPB).
- Any house, any condition: UPSTIX claims it will consider the purchase of any property in any condition.
- Will buy tenanted properties: The company also purchases buy-to-let properties with sitting tenants.
The Cons
-
- Possible irrelevance of valuation tech: Though UPSTIX highlights its data-driven valuation technology, this still needs to be verified by estate agent appraisals and RICS surveyors, which suggests that, really, the company’s process is no different to any other cash home buyer.
- Solicitors fees: Most cash home buyers stump up for the cost of the seller’s solicitors but UPSTIX does not pay for this.
- Few reviews: When selling your home through a cash home buyer you’ll likely check online reviews for social proof of the company’s legitimacy, fairness, and the positive experience they give to clients. The fact that UPSTIX has very few online reviews may put you off using this company.
- Less than 5 years in business: The London-based quick home sale company has only been in business for 3 years. In an industry that sees many cash home-buying firms come and go, this may not offer confidence to potential customers.
Upstix Vs. Other UK House Buying Companies
Below, we’ve highlighted some of Upstix ratings, reviews, and customer testimonials compared to other UK house buyers, such as The Property Buying Company, Springbok Properties, HouseBuyFast, WeBuyAnyHome & WeBuyAnyHouse
Quick Sale Firms
- Takes 6-9 months to find a buyer
- Some firms charge hidden fees
- Won't always buy any type of home
- Can take months if not true cash buyers
- Some firms do not offer complete confidentiality
- Not all quick sale firms offer a cash advance service
Upstix
- 7 days but typically longer
- You pay for your own solicitor
- Buys any property
- Is a true cash buyer
- Offers a discreet service
- N/A
Upstix Customer Reviews And Testimonials
| Trustpilot Reviews | Google Reviews | allAgents |
|---|---|---|
| 98 reviews | 5 reviews | 7 reviews |
| 4.0 score | 4.2 score | 5.0 score |
*Reviews are updated and correct as of 10/08/2024
Though UPSTIX doesn’t have many public reviews, those that they do have tend to be pretty favourable. On Trustpilot, which is one of the most reliable review websites, 71% of the company’s reviews are five stars. The majority of these highlight the company’s helpful communication, transparency and ability to put the client at ease.
For instance, in July 2024, Amanda wrote:
“All experiences so far have been good been dealing with Kris he's honest and will help in anyway he can only say positive things was very nervous but just been put at ease.”
Good communication and helpfulness
Sebbie Matthews also commended the company on its communication and helpfulness in their Trustpilot review, stating:
“I wanted to leave positive feedback as the service from the start has been very professional with great communication. Big kudos to Alex who was extremely helpful. Although the conversation did not result in progressing with a sale, but Alex went over and above to give me options and also provide advice on how I can progress with selling my property. Would definitely recommend using Upstix as they’ll be honest and help you achieve what you need.”
Speed and efficiency
On Google, Jacke Edwards also praised the company for its fast turnaround, even though, for a finish, it seems he didn’t complete the sale with UPSTIX.
“After a frustrating experience with another company, I turned to Upstix. From the very beginning, they were incredibly transparent and got me a valuation in just a few hours – something the other company took weeks to do. The speed and efficiency were impressive! Kris was an absolute gem, extremely helpful and a pleasure to work with. Even though they couldn't meet all my needs, the service was fantastic. Thank you, Upstix, for the great experience!”
However, as with all silver linings, there’s usually a dark cloud somewhere and unfortunately not everyone had positive things to write about this newcomer to the industry.
For example, Clementine Mary stated:
“Made an enquiry with this company about my property, initially communication was good and seemed incredibly helpful, and gave a reasonable suggested price. Once a few more details were given about the property, I was told that I would be called back Monday morning with a price. It’s been a week and no communication at all. Understandable if they needed more details however very poor service just to drop off. Was highly considering this option, but definitely not anymore!”
In addition, another customer questioned their offer:
“Crooks. Tried to quote us over £100,000 less than it was valued by 3 separate estate agents (9 months ago, if anything the market has gone up since then.) We enquired as it’s looking like our sale was due to collapse and wanted our ducks in a row. Suffice it to say, we will not be going with the cash-quick route. DO NOT USE THEM”.
So as we can see there's some bad, but a lot of good to say about selling with Upstix.
Upstix - Our Final Verdict
UPSTIX is a legitimate property-buying company with a fund pool for quick house sales and membership in organisations like NAPB. However, it's been established for less than three years, so its longevity in the industry remains uncertain.
The company's appeal lies in its fast technology for instant, fair cash offers and the possibility of a "bonus" payment if they sell your property for more than expected. However, UPSTIX is essentially similar to other cash-buying companies once you look past these features.
While UPSTIX claims to offer typically 15% less than market value, many online reviews suggest otherwise. Some reviewers praised the service, while others reported poor communication and questionable practices.
As always, when considering a cash-buying property company, conduct thorough research and choose one that best meets your needs.
Upstix Factsheet - (Free Download)
You can now access all the key information about Upstix in the Factsheet infographic we have created below.
Simply click on the image or the link that appears after the factsheet, and it will automatically download it to your device!
| House buying company | Rating | Trustpilot score | Google score | Feefo score |
|---|---|---|---|---|
| Housebuyers4u | 5/5 | 4.8 | 4.7 | 4.7 |
| HouseBuyFast | 4/5 | 4.0 | 4.7 | 4.8 |
| Quickmovenow | 4.5/5 | 4.3 | 4.4 | 4.9 |
| Goodmove | 4.5/5 | 4.9 | 4.8 | No reviews |
| Property Buying Company | 4/5 | 4.6 | 4.2 | No reviews |
| Property Solvers | 4.5/5 | 4.7 | 4.8 | No reviews |
| National Homebuyers | 4/5 | 4.5 | 4.1 | No reviews |
| Open Property Group | 4/5 | 4.7 | 4.3 | 4.9 |
| Springbok Properties | 4/5 | 4.3 | 4.1 | No reviews |
| British Home Buyers | 4/5 | 4.9 | 4.9 | No reviews |
| Ready Steady Sell | 3.5/5 | 3.7 | No reviews | No reviews |
| We Buy Now | 4/5 | 4.4 | 4.1 | No reviews |
| We Buy Any House | 4/5 | 4.4 | No reviews | No reviews |
| TheAdvisory | 4/5 | No reviews | 5.0 | No reviews |
| Ask Susan | 3.5/5 | No reviews | 2.3 | No reviews |
| Property Cash Buyers | 3.0/5 | 1.3 | No reviews | No reviews |
| We Buy any Home | 4/5 | 4.0 | 3.9 | No reviews |
| Home House Buyers | 4/5 | 4.9 | 4.9 | No reviews |
| Smooth Sale | 4/5 | 4.9 | 4.9 | No reviews |
Browse our comprehensive reviews and expert insights to find the best company for your situation.
*Note: Review data is usually less than 12 months old, please click and read the individual reviews above for up to date details on each website.
