How do part exchange schemes work and is it right for me?
Part exchange schemes can be a great way to discount the purchase price of a brand-new home, but they’re only possible when dealing with new property developers.
A trio of important questions about part exchange schemes
We’ve fielded many queries from homeowners about part exchange schemes, and these are three of the most important questions and answers you should know about them:
✅ Can I use a part exchange sale to buy an existing house?
No. Part exchange schemes apply strictly to situations where a homeowner sells their existing house to a property developer to help as partial payment toward the cost of buying a completely newly constructed house that the developer is building. These schemes can’t be used for other types of property purchases.
✅ How do I know if my house qualifies for a part exchange sale?
You should talk with the property developer of your desired new home about the eligibility criteria they require for part exchange schemes. But for most part exchange schemes, the house or flat that you currently only must have a value of roughly 70 percent of the value of the new home that you are looking to buy.
✅ What can I do if I think a property developer is undervaluing my home?
If the property developer gives you a value for buying your existing home that you feel is too low, you can negotiate with them and you don’t have to take their first offer. Do some research into the value of your property, including by looking up price estimates on online property value websites such as Zoopla.
Unsure you want to use a part exchange scheme? Consider selling to LDN Properties.
Although part exchange schemes might be attractive to some homeowners, we understand they’re not for everyone and that’s why we offer a way to get quick and competitive offers to buy your house or flat. It’s easy to get a no-obligation, no-fee quote – simply click "Request Offer" or call 020 7183 3022 to chat with our team of friendly experts.
We’re rated as Excellent
Reviews.co.uk provide independent reviews from other people just like you!
"Successfully sold two properties direct to LDN Properties in the last two years. Genuine and trustworthy people and the dealings were straightforward." – Thomas from London
Company No. 04636129. ICO No. Z7733416. Ombudsman No. D12463.
Copyright 2003 to 2021