I’m extremely disappointed
I’m extremely disappointed with my experience using JPU Marketplace.
I purchased what was advertised as a fully tenanted, turnkey 5-bedroom HMO property requiring no additional works. After paying a substantial reservation fee of nearly £8,000, I was then introduced to the estate agents managing the property to begin the exchange and completion process.
However, once I received the legal documents from the seller’s solicitors, I noticed only four tenants were listed instead of the five originally advertised. I then requested a rental breakdown, which revealed the actual situation with the property and tenants — very different from what had been presented. One tenant was reportedly six months in arrears, while two others were paying significantly below market rent.
I raised these concerns with JPU and asked whether there was any flexibility regarding the reservation fee, given the inaccurate information. This was refused, which immediately raised concerns for me. Having already committed nearly £8,000, I felt heavily tied into proceeding with the purchase.
After waiting approximately 3–4 months and nearing exchange, I decided to inspect the property personally before moving forward. During this inspection, I uncovered multiple serious issues, including damp, water-damaged ceilings, damaged showers, mould smells, and flaking walls that appeared to indicate ongoing moisture problems. One room in particular had a severely water-damaged ceiling accompanied by a strong mould odour.
I also spoke directly with tenants, who advised that some of these issues had existed for over a year. This left me questioning the level of due diligence carried out before the property was marketed as “turnkey.”
I raised these issues again with JPU, but was informed that because several months had passed, they would not assist further or consider any refund of the reservation fee.
As a result, I am now facing the prospect of spending thousands of pounds on repairs, while also needing to source additional tenants — issues that were not disclosed prior to purchase.
What makes this particularly frustrating is that James regularly discusses the importance of spotting these types of problems on social media, yet in my experience, those same standards did not appear to be applied to properties listed on their own marketplace.
In hindsight, I should have inspected the property sooner, and I accept responsibility for that. However, based on the company’s branding, marketing, and educational content, I trusted that stronger due diligence had been carried out.
Unfortunately, my personal experience has left me feeling misled and extremely disappointed. I will now be exploring my legal options regarding the matter.