Which Part House Exchange Company Should You Choose?

It’s no mean feat weighing up your options for part-exchanging your property in the UK. There are many developers to choose from and more information available than ever before, so you can easily get lost in all the research.

That’s why we’ve put together this guide to the best part-exchange companies in the country to help you make a choice that’s right for you. We’ll take a quick look at what part-exchange means and how it works before diving into a comparison between the top five developers, so you don’t have to do the legwork yourself.

Table of Contents

• What is a house part-exchange company?

• The top 5 part-exchange house companies in the UK

• What to look out for when choosing a new build part-exchange scheme

What is a house part exchange company?

A part-exchange scheme from a property developer allows the company to buy your existing home from you if you commit to buying a new-build property from them.

Since some of the new properties available as part of such schemes are often ready to move into, it can be a quicker way to sell your home when compared to the open market. However, be aware that some developers market schemes that include properties that are still being built, so be sure to compare and contrast your options across different part-exchange companies as part of your search.

How does a part-exchange scheme work?

There are many steps to the part-exchange of a house—the actual process might differ slightly from developer to developer, but it’ll broadly follow the same pattern:

Step 1. Eligibility assessment

Step 2. Home visit

Step 3. Provisional offer

Step 4. Financial and legal checks

Step 5. Choosing and securing your new home

Step 6. Offer, negotiation and options

Step 7. Securing your financing

Step 8. The legal side

Step 9. Handover and property marketing

If you’re considering part-exchange as an option, you’ll be well aware of the need to do your research (and we’ll hazard a guess that that’s why you’re here). To help you along your journey, we’ve compiled some of the best part-exchange developers in the UK and pitted them against one another so you can choose one that might suit your needs.

The top 5 part-exchange house companies in the UK

We’ve used Trustpilot reviews as a guide to form a league table of the top companies in the market, featuring some real reviews to demonstrate their pros and cons from genuine customers.

Read more: Barratt and Redrow to complete £2.5bn merger after clearance from competition watchdog

There you have it—the five most prominent property developers in the UK offering part-exchange schemes. This information is designed to help you make a better choice when it comes to selling your home, but we will encourage you to delve deeper into your own research, too, since your personal circumstances will change the route you’ll take here.

Now you’ve got an idea of the top companies in the market, let’s take a look at what you need to bear in mind throughout the process.

What to look out for when choosing a new build part-exchange scheme

A part-exchange deal can be a great way to upgrade your house if you don’t want to go via the traditional route of selling on the open market. However, every company should be scrutinised to make sure they’re the right fit for you, whether it’s a new build developer offering part-exchange or an independent part-exchange provider.

Before you commit to the part-exchange route, make sure you’re aware of the key factors that you’ll need to consider with any of the companies above, such as: 

Stamp duty requirements: You will still need to pay stamp duty as with any other house purchase—check the latest government stamp duty rates here.

Market value and buyer offers: The offer you receive will likely be lower than the market value, purely because the developer needs to make money as a business.

Developer incentives: Ask about any incentives on offer from your developers—they may offer to cover or subsidise stamp duty to help the sale along.

New build valuation: New properties come at a premium, so make sure you compare values with other older properties in the area and consider how long you’ll want to stay in the house.

Terms and conditions: Read the small print carefully—some developers might ask for a refundable deposit based on the condition of the exchanged property.

Snagging survey: Check the quality of the workmanship on your new home with a snagging survey, ideally before you exchange contracts.

These apply to almost all part-exchange companies, but most will have slightly different ways of doing things—do your research thoroughly to ensure you pick the right company for you. Here are some more pointers to help you along the way: 

You can usually tell when a company isn’t quite what it seems when you go through all these checks and do your due diligence. Another quick trick is to look out for certain details on the homepage of their website:

Only once you’re satisfied with all of the above should you proceed with a part-exchange scheme from your chosen developer. Be sure to weigh up the pros and cons as you would with any significant purchase and, again, read all the small print.

Take a look through Trustpilot reviews, too—they’ll usually be a good marker of how customers have felt dealing with such part-exchange companies. Here’s a recent example from one of Persimmon’s customers:

Read more: Is part-exchange really worth it?

If you feel like your research has led you to question whether or not part-exchange is right for you, a strong alternative could be to sell to a cash buyer like us. While part-exchange can take weeks or months to process, we can help you sell your house quickly—sometimes within days—which is especially useful if you’ve spotted your dream home and you want to snap it up before someone else does.

Here at The Property Buying Company, we are members of The Property Ombudsman and the National Association of Property Buyers (NAPB), so you will always be treated fairly throughout the sales process if you want to sell to a cash buyer like us instead of part-exchanging. We pride ourselves on our transparency and put customer-focused practices at the heart of our business.