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.

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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.

Selling to a cash home buyer rather than a part exchange scheme?

If you would like to sell your property quickly, get in touch with the experts at LDN Properties. We have been buying leasehold and freehold flats and houses for almost two decades, and we provide a no-stress, straightforward and hassle-free option for receiving competitive and speedy offers for selling all shapes and sizes of properties.

Start the process of selling to us by calling our friendly team, and within one hour of talking we should be able to provide you with an initial quote for buying your property. You’ll have at least a full week to think about the offer, so there is zero pressure for you to make a snap decision.

The next step is usually for one of our representatives to visit your house or flat and tour the inside and outside. Our representative’s visit is also a perfect chance for you to ask any queries that you may still have about selling.

We’ll be completely upfront with you about the factors that we rely on to make a valuation and purchase price offer for your home. We have a lengthy list of very happy customers who have benefited from the fast and fair offers that we make for buying many different types of homes. Some examples of properties that we have bought include dilapidated houses, flats with cladding, homes of multiple occupancy, houses with solar panels, properties where the owner has misplaced crucial paperwork such as the title deeds, homes built from atypical construction material including steel and concrete, property on noisy roads, and many other varied examples.

And the final step is for us to work with your solicitor to quickly complete all of the mandatory paperwork for buying your home. Our typical timeline for buying a property, including all parts of the process such as exchanging contracts and paying you the proceeds, is just a few weeks.

In addition to securing a quick sale, another advantage of selling via the simple steps outlined above is that LDN Properties will never charge you any fees. That’s because our belief is that owners are entitled to the total proceeds of whatever sale price we offer for buying their houses or flats.

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"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

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