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Make the Move: Move Into Your Quality New Home in a Month - 2 February 2012

As we move into the New Year there is on-going doom and gloom in the global economy and fears of an ongoing global recession. This trend continues to act on the housing market with concerns about prices and how difficult it can be to complete the sale on property. However, with a bit of research it is not all doom and gloom. Given the right circumstances, now is an exciting time to be looking to move. Lenders, and even builders, are hoping to deliver innovative new ways to help people move up the housing ladder. One way is to part exchange your home, and other options include partial purchases, grants or various government schemes. This is opening opportunities to a great deal of people who previously thought of themselves as stuck in difficult situations.

For the first time buyer this may take the form of partial purchase opportunities, allowing the buyer to take out a mortgage at a reduced amount of the property’s values. This is typically 75% of the total value, with the buyer then repaying the remaining amount over a number of years. With the reduction in house values over recent years, a first time buyer has an opportunity to enter the housing market, which did not exist before, and get much better value for their money.

Other options for moving home include shared ownership, enabling buyers to work together to consider properties that they would have thought of as outside their price bracket. It is also possible to realise further savings by exploring the offers that mortgage providers are bundling into their products to entice buyers. This may include assistance with moving fees, payment of legal fees or even payment of stamp duty.

As an existing homeowner it’s understandable to worry about not getting full market value for a property. In exceptional cases home owners may be suffering negative equity. Purchasing a new property also means contending with the UK's notoriously archaic property laws. It usually means entering into a buying chain and taking the risk that any one of a number of people involved will receive a better offer. They can then walk away from your agreement, leading to the collapse of the chain.

Providers of new build properties are seeking to remedy this situation by the innovative method of offering part exchange homes. They will buy your home as part of the purchase of a new build property, which takes an enormous amount of hassle out of the moving process. It leaves the buyer to find the home that is right for them and let someone else worry about marketing and selling of the existing property. Most will allow multiple valuations of your property, bringing confidence of a fair price. Even if a sale takes place simply remain in your existing home until the new home is complete.

So, if you fancy a move and a new build property could meet the requirements for a new home then the situation is not as complicated as you think. With access to one of these schemes it is realistic that you could be enjoying your new home in a matter of months.