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Part exchange on a new build - exchange £££
BizHighflyer
Posts: 27 Forumite
Looking to buy a new build property via a part exchange on my house.
At the point of exchange of contract, I am asked for the 10% deposit.
Question though... where does this come from? I don’t have £50k just sat in a bank account!
I had planned to fund everything from equity but that won’t be achieved with part exchange until completion!
Much appreciated.
I had planned to fund everything from equity but that won’t be achieved with part exchange until completion!
Much appreciated.
Adam
0
Comments
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We part exchanged our old house against a new build and they didn't expect any deposit at exchange of contracts as the funds were from the equity of the existing property. It wasn't a problem with them.2
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