How does Part Exchange work?

With Part Exchange, Legal & General Homes acts a guaranteed buyer for your current property so you don’t have to worry about the ‘chain’ falling through or another buyer holding up the process.

Because you’re selling directly to us, there are no estate agent fees and you won’t have the hassle of negotiating with buyers. We work with independent estate agents to value your property and ensure a fair market value for your home.

It simply allows you to secure your new home without unnecessary delays, so you can focus on the exciting bits about moving in to your future Legal & General home.

Try our Part Exchange Calculator

(up to £1,000,000)

Min £50K
Max £1M

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Min 0%
Max 5%

(up to £10,000)

Min £0
Max £10K

Min £0
Max £2,000

Your results

Home value:
Estate agent service fee (%):
Estate agent advertising fee (If applicable):
Home report (Scotland only):
Potential saving*:

*This calculator is provided for basic guidance only; Legal & General Homes do not offer financial (or mortgage) advice. This calculator does not include VAT or fees which may be payable to your lender such as early repayment charges etc. You should take advice from an IFA before agreeing to a part exchange and/or new mortgage. This calculator does not include all the information you will need to apply for a new mortgage. This calculator does not constitute a part exchange quote. Estate agent advertising fee may include but is not limited to photography, printing of sales particulars and marketing activity.

Terms & Conditions and Purchasing Criteria

Terms & Conditions 

Part Exchange will be considered subject to Legal & General Homes' purchasing criteria, terms and conditions. We have the right to refuse your application for the Part Exchange service but if this happens our Sales Advisor will be pleased to work with your selling agents, recommend alternative selling agents or help you with other suggestions about how to market your existing home to help you to find a quick sale.

To determine a fair price to offer for your existing home, Legal & General Homes will obtain two independent valuations based on achieving a sale in a six week period. We will not base our offer on historic valuations or offers and our offer is valid for seven days only.

We will carry out a survey on your existing home after you accept an offer. The part exchange sale depends on the results of that survey. In the event that the survey reveals problems with your existing home we will talk to you to find a solution, however if we fail to agree terms, we will deduct any cost incurred by Legal & General Homes for the survey and specialists reports when we return your reservation fee.

While your new home is being built you will have to allow us to market your home and arrange viewings by appointment, at reasonable times. You cannot use the service with any other incentives or purchase services unless we specifically agree you can at the time you reserve your home.

You agree not to instruct another agent during the period that your Part Exchange reservation is active and, if you have an existing contract with an agent, you agree you will dis-instruct that agent. Legal & General Homes will not be liable for any related cancellation fees.

Purchasing Criteria

Where a part exchange sale is being considered:

  • Legal & General Homes will only accept part exchange in the absence of a cash purchaser
  • There must be sufficient differential between the value of your existing home and the Legal & General Homes home and market demand/sales potential for us to consider part exchange
  • Geographically, Legal & General Homes will only consider part exchange on a property that can be easily managed from a CALA Homes or Legal & General Homes regional office location
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