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Solution for the credit crunch? - 12 September 2008

The recent announcement by the government of a raft of measures to encourage and stimulate the property market in the UK has been greeted by something of a lukewarm response. Even though the temporary hold on the payment of stamp duty for properties under £175,000 has been welcomed, few experts or members of the buying public are convinced that it will kick the housing market into life.

While it now costs a little less to buy the cheapest houses on the market, the government measure have done nothing to increase the availability of finance for mortgage-seekers, and the banks have been very quiet about their own financial health in recent weeks. This leaves those who are looking for a change of scenery, or those who need to sell and relocate, in the position of being almost trapped in their property until the market pulls out its current sluggishness.

However, a new website has been launched that aims to solve some of the issues of the current property crisis, and will allow its members to move without the need for finance, estate agents, chains or lengthy processes. HomeSwapper4Sale.co.uk is a service that matches people looking to sell their homes, with those who want what they have got, and vice-versa. Launched in August 2008, HomeSwapper4Sale.co.uk has seen over £100m of property registered, and matches have already been found for registrants.

Not only does this service allow interested parties to move with only two parties involved in the process, it has the capacity to let members trade up, downsize or swap like-for-like – either just down the street or across the other side of the country. The website searches for matches automatically, and has a variety of alert options for members. Membership is free for a limited period, and the site is quick and easy to use.

John Carthew, Managing Director of HomeSwapper4Sale.co.uk said: “Swapping through HomeSwapper4Sale.co.uk offers real advantages to all types of sellers. We have years of experience matching swappers in the rental sector, and so decided we should extended this to private buyers and sellers so that they too can reap the benefits.”

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