Part Exchange Property

[garrybaldi]

On a recent visit to Scotland I noticed that quite a lot of property for sale signs read 'part exchange considered / welcome'. These were privately held properties mostly newly developed. Does anyone have any knowledge of such a system and whether it is an option here in Ireland, to help people moved to more suitable homes.

 

[Luternau]

The nearest I know is Ulster Banks negative equity mortgage, which allows you take your old loan with you to another house. But based on your other thead, this is unlikely to be an option for you at the moment.

 

[SarahMc]

These schemes are fairly common and well established in the UK with the likes of Barrett and wimpey homes. They aren't great though, you don't really get the Market price of the home you are offering in part exchange, and of course it is built into the cost of the new home, much like a part exchange for cars.

In any case, I don't think it was ever offered here.