Barratt Homes Part Ex'ing?

mcarthyryan

The town where I live is soon to be getting a Barratt Home development, and me and my girlfriend would like think about buying one.

I currently have a mortgage on an apartment, and wondered if barratt part ex on apartments, or is it only on actual houses?

Do they offer a good deal on the part ex's? As I would need to use the equity I've build up on the apartment to try to buy the new build.



Cheers

mcarthyryan

Just bumping this back up from last year, as the development is due to start soon.

Can anyone answer the above?

Skinto_7

they claim to give full market value for your existing property, only way to find is to get their offer right enough.

With regards p/exing for an apartment, i know in Scotland this isnt an issue for most house builders who offer part ex, not sure if its different in other parts of GB because of the leasehold arrangment which seems more common elsewhere.

Basically my advice would be to phone them up and speak to them, thats the only way your going to find out, they will confirm whether apartments are acceptable and if they do and you get them to value your pad, you will know if its a fair offer or not and will be able to proceed as you see fit. Pick up the blower!!!

SuzieSue

No problem with flats. The issue is the difference in price between what you are selling and what you are buying. The property you are buying has to be a certain figure over what you are selling - so you need to ring and ask them.

They do give a fair price, but valuing anything is very difficult when prices are falling, so you might not get what you expect.

littlesparkles

I live in an apartment and will soon be moving to a new build. Barratt were willing to part ex on the flat as were Taylor Wimpey. Bellway and Persimmion were not. The part ex valuations were ridiculously low so we didn't go ahead. Instead we joined Taylor Winpey's easy move scheme. They instructed estate agents and will be paying for their fees, stamp duty, lawyer, removal company, 5%deposit. We are really happy with this and sold for a decent price withjng 4 weeks. Fingers crossed that it all goes through. Barratt might offer a similar scheme if part ex doesn't work out.