Introducing our
Part Exchange.
With over 40 years of house-building experience, we understand that purchasing a new home whilst selling your current one isn’t always easy.
Use our Part Exchange scheme for a simple, stress-free path. Reserve your new Pennyfarthing Home and be safe in the knowledge that the sale and purchase is guaranteed.
Why choose Part Exchange?
You have a guaranteed purchaser.
No cost to you.
No estate agent fees for you to pay.
A fixed completion date.
Enjoy the luxury of no chain.
Stay in your current home until your new home is ready.
Save time, money and hassle.
Up to three local valuations from local estate agents.
How Part Exchange works with Spring?
Choose the new Pennyfarthing home you would like to purchase – we will ask Spring to contact you.
Spring will request 2 estate agent valuations, and conduct a full underwriting review of your property***, to make a no-obligation indicative offer, subject to RICS* survey
If the indicative offer works for you, Spring will arrange a RICS* survey, and following a review of the survey results by Spring's underwritering team, a guaranteed formal offer will be made.
If you accept Spring's formal guaranteed offer, simply chose a completion date to suit and plan ahead safe in the knowledge your sale will not fall through.
Spring also offer a priority chain repair service when a homeowners sale has fallen through or a buyer pulls out last minute. Spring can simply step in, buy your property or any other property in the chain, enabling you to complete your chain as planned.
How Part Exchange works with The PX Partnership?
Choose the new Pennyfarthing home you would like to purchase – we will ask The PX Partnership to contact you.
The PX Partnership will then organise valuations with up to three local estate agents. One of their team will also carry out a home visit
Once the PX Partnership are in receipt of the estate agents’ valuations and have completed their own research, the Part Exchange offer for your property will be made to Pennyfarthing Homes and we will contact you to discuss the figure.
Once the offer is accepted, we will contact The PX Partnership, who will then arrange for a survey to be carried out by a Charted Surveyor in order to confirm the offer.
If you decline the offer, the process ends with no cost to you.
Once everything has been agreed, the solicitors are instructed to commence the legal process and work towards an agreed completion date.
Once the PX Partnership have completed the purchase of the property you can choose to move straight in to your new home, or take advantage of our free option to remain in your old home for up to 7 days, which helps to reduce the stress of the moving process.
Part-Exchange requirements
Finer details…
Maximum buy in property value of £600,000.
Leasehold houses considered but would need to have a long lease and be subject to checking ground rent conditions.
Apartments will not be considered, please see our Pennyfarthing Promise.
Homes currently tenanted will need to be offered as vacant possession.
Current owner must have resided in the PX property within the last two years.
- Apartments will only be considered by Spring***
- All offers are subject to a RICS survey.
- The part exchange is offered via The PX Partnership or Spring.
- Not to be used in conjunction with any other offer.*
- This offer is valid for a period of 7 days.
- The chosen property must be build complete within 3 months.
- This offer is available on residential properties to eligible purchases buying the property with cash or with the aid of a mortgage.
- Purchasers must be over 18 years of age.
- Pennyfarthing Homes reserve the right to withdraw or alter the terms of this offer at any time prior to the payment of a reservation fee for the selected property.**
- Only properties in England and Wales are eligible for this Part Exchange Scheme.
- The relevant sum will be deducted from the total sale price on legal completion.
- The offer is not available on all properties, please check with our Sales Team for further details.
*Any further incentives offered are at the discretion of the builder.
**Purchasers are required to pay the standard reservation fee of £2,000 for the selected property.
For Terms and Conditions on our reservation fee, please refer to the Reservation Agreement.
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