Part Exchange offers an alternative way to sell your existing property when buying a new Banks home. Instead of waiting for your home to sell on the open market, our external Part Exchange partner can purchase your property directly, giving you greater certainty over your move and removing the reliance on a property chain.

Once you’ve found a Banks home you’d like to buy, speak to our Sales team. We’ll talk you through the scheme and, with your permission, refer your details to our Part Exchange partner to begin the valuation process.

Our Part Exchange partner will arrange for two independent local estate agents to visit and value your property. Their valuation reports are then reviewed alongside an assessment of your property before a formal cash offer is made

Every property is assessed individually, so there isn’t a fixed Part Exchange percentage. As a guide, our Part Exchange partner typically offers around 85% of the Estimated Sale Price (ESP), although this may be higher or lower depending on factors such as the property, its condition, location, local demand and comparable sales.

Our Part Exchange partner purchases your property directly before selling it on the open market, so the offer takes into account the costs and risks associated with purchasing, holding and reselling your home.

In return, Part Exchange gives you the greater certainty of a guaranteed buyer, removes the reliance on an onward property chain and can help you secure your chosen new Banks home.

On selected plots, Banks Homes may offer a 5% Top Up towards your deposit when you use Part Exchange, helping to make your move to a new Banks home even easier.

The 5% Top Up is available on selected plots only and cannot be used in conjunction with any other Banks Homes incentive. Speak to our Sales team to find out which homes are currently available with this offer.

Yes, your property can still be considered for Part Exchange if it’s already on the market. You’ll be asked to provide some information about its current marketing, including your estate agent, how long it has been available, any offers or viewings you’ve received and any price changes.

A wide range of mortgageable freehold and leasehold properties can be considered, and Part Exchange may also be suitable if you’re downsizing or making a sideways move.

Every property is assessed individually by our external Part Exchange partner, taking into account factors such as its condition, location, local demand and resale potential. Part Exchange is also plot-specific, so speak to our Sales team to check availability on your chosen Banks home.

With Part Exchange, our external Part Exchange partner purchases your existing property directly, giving you the greater certainty of a guaranteed buyer without relying on an open-market property chain. The offer will typically be below the Estimated Sale Price of your property.

With Move Assist, your existing property is marketed on the open market with support from our assisted move partner, and Banks Homes can contribute towards your estate agency fees when you successfully purchase your new Banks home through the scheme.

Our Sales team can help you understand both options and decide which could be better suited to your circumstances.