The Ultimate Breakdown of House Part Exchange Schemes

If you are someone who has been trying to buy a newly built house or struggling to sell a current property to gather the funds for the purchase, then part exchange could be a solution that makes your life easy. But what is part purchase? How does it work? Is it a good scheme? We gathered all the necessary information from expert estate agents in Buckingham, which we will share with you in this blog today.

What is meant by Part- Exchange (PX)?

A housing scheme that enables buyers to purchase a newly built home before selling their current property is known as a part exchange house scheme. The homeowner’s current property is bought by the property developer and the value of the house is deducted from the price of the new house. 

House part exchange scheme, is a great option for people who are trying to move quickly or finding it difficult to sell their current property. Some people also choose the house part exchange scheme simply because they want to avoid the troubles of selling their house. A developer also benefits from this scheme since they have a guaranteed buyer who will purchase one of their properties. 

Is House Part Exchange a good idea?

It must be noted that the part-exchange scheme is only available to people who are buying a newly-built property. This scheme is best suited for buyers who are trying to upgrade from their current home to a more expensive property. There are various advantages and disadvantages of a house part exchange scheme and whether it is a good option is dependent on certain individual circumstances and priorities of the buyer. 

Here are some of the pros of a house PX scheme:


Since both the parties have agreed to the transaction and have put down their signatures on the dotted lines, the sale is sealed and guaranteed. There is no risk of the deal falling at the last minute like some traditional house sales. 

Time factor:

On average, it takes 50 days to find a buyer in the UK and another 12 weeks to complete the entire process of sales. Sadly, almost half of all the house sales fall through before reaching the stage of completion. In such a scenario, choosing a house part exchange scheme will deduct the waiting time for the right buyer and create a pathway for a simpler, expedited sales process. 

Avoid estate agency fees

In 2019, the average agent fee reached 1.53%, and homeowners hiring now in prime locations may get charged as high as 3.97%. But when it comes to houses under a part exchange scheme, you can save a good hundred or even several thousand pounds. 

Escaping the property chain: 

Perhaps one of the biggest setbacks of traditional house buying in the UK is the collapse of the dreaded property chain. This happens when multiple house sales are reliant on each other, and a single person pulls out which leads to the chain falling apart. With the part exchange scheme, there is no risk of chain, and the agreement will take place between you and the developer only. 

Less stress: 

Whenever a property goes on the market, it leads to months of stress and disruption for homeowners from the viewings. Add to it the stress of finding a buyer. Part exchange removes all of this hassle, and you will know where you are situated in the sale process. 

Now, let’s take a lot at the Cons

Lower offer price: 

A property exchange house may be lesser than the market value, and the independent valuations aim at offering a selling price and not an asking price. Hence if you are determined to get the best value for your house, the house part exchange scheme might not be a good option for you.

No guarantee in PX: 

There are many developers who refuse to accept properties with a short lease left to run out. There must be a minimum of 30% difference between the value of the current house you are trying to sell and the new property you aim to buy. 

Decreasing returns on new builds: 

Just like any other form of investment, a newly build property will begin to depreciate from the moment you step in and hence may be of less worth when you try to sell it.


For homeowners who have selected their dream home and want to move in quickly, house part exchange is a great option. But this scheme is not for everyone. Always review the pros and cons before choosing what is right for you.

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