Part-exchange saves the day for home buying couple

Part-exchange saved the day at Barratt’s Monarch Fields development in Telford, for a family of four whose dreams of buying a new home were shattered, only to be rebuilt by the housebuilder's offer.

Garry (48) and Tracey (44) Thomas from Telford part-exchanged their 70s three-bedroom semi-detached property with Barratt after their original buyer was forced to pull out of the sale just three days before legal completion. The couple were dealt the hugely disappointing blow after they had already reserved their three-storey Kingsville property, but so that they could still make their move, Barratt agreed to buy their old house in part-exchange.

Tracey, who is a Teaching Assistant at Wombridge Primary School in Oakengates, together with her husband, Garry - who has owned a vehicle mechanic business for 13 years - moved in to their three-bedroom property on Septmeber 26th after 24 years at their former home in a cul-de-sac in Telford. Tracey said, "We always wanted something bigger and one day we went to look at Monarch Fields - when we compared the sizes of the rooms to the measurements of our home, we couldn't believe how much bigger they were. The quality of the homes stood out, but when we saw the Kingsville that clinched it as the accommodation was so flexible.

"When my mother comes to visit we can use the family room on the ground floor to sit and eat, but the lounge on the middle floor is fantastic as it has a stunning view of the Wrekin. Our old property was a typical 70s three-bedroom home with a box room but now, my son, Anthony (20), has a big room which he plans to put a rowing machine in when he comes back from university!"

Back when the couple were first considering whether to make the move, Tracey said they weighed up the costs of what would need to be spent over the next ten years to update their current home. They concluded that they would be no worse off financially if they bought new and in addition, they would gain the extra space and comfort of the Kingsville.

Tracey added, "Our sales experience with Barratt has been absolutely brilliant. By the time our first sale fell through, I had directed all the mail to the new house, so the sales negotiator kept popping round to give us our post. Within 24 hours of him first suggesting that we part-exchanged he let us know that Barratt would buy it off us, which was a huge relief.

"I love our new home. Gardening is one of my main hobbies so the fact the garden is so good means I can potter around it and make it my own. My daughter, Stephanie (22) lives with us as she is back at college studying to go in to teaching and when Anthony is back after his final year of his law degree, the house will still be perfectly sized for the family because it is so spacious."

Graydon Worthing, Sales Director for Barratt West Midlands, said, "Part-exchange is a great way of breaking the moving chains. It takes away purchasers' worries about finding a buyer, as that onus is then on us to find one. The only criteria the buyers must meet is that their old home is valued at no more than £250,000 and is no more than 70 per cent of the price of their new property. We will then buy your home at fair market value and pay all estate agents fees and take care of the HIP, leaving a snag-free experience and a guaranteed purchaser for your existing home."

Monarch Fields is situated on Station Road, in Donington, Telford and currently offers two-bedroom apartments and two-, three-, four- and five-bedroom homes, with prices ranging from £147,950 to £339,000.

For more information, log on to Barratthomes.co.uk/monarchfields.