Figures from house builder, Bloor Homes Midlands, have revealed that part exchange is proving popular with buyers at its Edwalton Park development in Edwalton.
The developer has seen strong uptake of the scheme at the site, with almost one in five buyers opting to use part exchange to help them secure their new home.
Commenting on the figures, Michele Rose, Regional Sales Director at Bloor Homes Midlands, said: “With Brexit uncertainty causing a slowdown in the second hand market and little clarity as to when it will be resolved, many of our buyers are looking for alternative ways to sell their existing homes in order to make the next move on the property ladder.
“Part exchange not only cuts the length of time it can take to complete a move from months to just weeks, it also removes the worry of being caught up in a lengthy chain, with the risk that someone will pull out.
“It can also save buyer’s money in the long run, as they will not incur estate agent costs for the sale of their existing property, which can be anywhere between 1.5 and four per cent of the sale price.”
One couple who benefited from the scheme are Adam and Libby Tipler, who used part exchange to upsize from a three-bedroom semi-detached house in West Bridgford to a four-bedroom detached home at the development. The couple opted to use part exchange after a previous purchase fell through when the buying chain broke down.
Libby said: “Using Bloor Homes’ Part Exchange scheme was fantastic for us, particularly after the difficulty we had trying to sell our house last year. To have the security of knowing that what happened to us last year wouldn’t happen again was just wonderful.
Adam added: “The offer we received on the house was more than what we were expecting, the customer service we received has been fantastic and the whole process was just so straightforward. There was no downside to it at all.”
Michele concludes: “Part exchange has already helped many of our buyers like Libby and Adam move on and secure their next dream home. I would encourage prospective purchasers to speak to our sales advisors to find out more about how part exchange could help them.”
Edwalton Park is a collection of three- and four-bedroom homes in the attractive suburb of Edwalton, just five miles south of the city centre. Homes at the development are priced from £284,950 to £509,950.