ABZ_RVK Posted July 3, 2019 Share Posted July 3, 2019 I would like to find out if there is an option to part exchange house in Scotland when buying a new build in England? That is to buy a new built in England and ask the builder to part exchange with our house in Scotland? I understand that we can part may be within the same city but do they allow to part exchange from Scotland to England? I believe the answer is NO. But i would like to get some more thoughts on this to be better informed. Quote Link to comment Share on other sites More sharing options...
regprentice Posted July 3, 2019 Share Posted July 3, 2019 I would say yes. Looking at the t&cs for a national builder like Taylor Wimpy there is nothing that says they won't. They offer part exchange in Scotland and England. They offer it wherever they have a regional office. Only way to know is to ask. However House prices have dropped a third in the last three years in Aberdeen. How much equity do you have? On top of that 1/3rd drop the offer they make to you for your home will be on the very low end of the market value. You won't get a mortgage for a town you don't live in unless you can show you have a job there. If you used Help to buy on your old home you will have to repay the loan. You can't use HtB on your new home and part-exchange at the same time. Btw not sure this is the right forum for your question. Might have more luck on the house buying forum on MSE. Quote Link to comment Share on other sites More sharing options...
ABZ_RVK Posted July 3, 2019 Author Share Posted July 3, 2019 51 minutes ago, regprentice said: I would say yes. Looking at the t&cs for a national builder like Taylor Wimpy there is nothing that says they won't. They offer part exchange in Scotland and England. They offer it wherever they have a regional office. Only way to know is to ask. However House prices have dropped a third in the last three years in Aberdeen. How much equity do you have? On top of that 1/3rd drop the offer they make to you for your home will be on the very low end of the market value. You won't get a mortgage for a town you don't live in unless you can show you have a job there. If you used Help to buy on your old home you will have to repay the loan. You can't use HtB on your new home and part-exchange at the same time. Btw not sure this is the right forum for your question. Might have more luck on the house buying forum on MSE. Hi Thanks for your inputs much appreciated. Yes, You are correct. Prices have fallen and continue to fall in Aberdeen. Ours is not a HTB. Yes i understand that builders will offer below the market valuation but i am trying to find out if there is an option available. If Builders are open to part exchange then at least i can evaluate and find out which one suits us. Many Thanks! Quote Link to comment Share on other sites More sharing options...
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