FAQ

HOMEOWNERS FAQ

  1. Whats it all about ? Alfie

    Newish way of operating in the property market

    Huh ?

    Swap properties, no need to wait for a buyer

  2. Whats going on ?

    People abroad swapping to U.K. property,empty buy-to-lets going overseas. Housebuilders reducing their liabilities, folk getting new-build homes

  3. Whats it cost? cause money’s too tight to mention

    Nothing, it’s FREE to use use Property Swap Shop

  4. It aint what you do ,its the way that you do it

    Exactly, you’re getting the hang of this.

    Nothing changes from conventional transactions, just finding that property is different, with the bonus of not relying on a buyer for yours, phew!

  5. Can I help?

    Yes please, tell your estate agent about Property Swap Shop

  6. Reduced stamp duty, is it really Stairway to Heaven?

    We think so but check with you solicitor

  7. Who’s onboard the groovy train?

    Everyone, estate agents, housebuilders, buy to let landlords, housing associations and councils

  8. What if properties have different valuations?

    You still have to sort out any difference same as a conventional transaction, consult your financial advisor even if he does work for Northern Rock

  9. Tell me again, I’ve forgotten who I am

    Ok last time, Mr. Pink and Mr. Brown live at opposite ends of London. They each have a property the other would like. No one is buying their respective homes because of this credit thing. Inspired by property swap shops fantastic website they join, see each others houses, swap and live happily ever after. Ahhhh

  10. Don’t leave me this way

    Homeowners please join us soon for a homeswap you will never forget.

  11. Do you wanna be in my gang,my gang?

    Easy to join the homeswap gang, just go to the registration page and fill in your details

  12. Give me the reason

    The biggest reason to join is that you dont have to wait for a buyer. You do have to have to find someone who wants yours in exchange for theirs. With our growing portfolio that isnt as hard as it seems.

    Property swapping is an additional option to conventional searching.


MUTUAL EXCHANGES - Council Tenants & Housing Association Tenants FAQ

  1. What is a mutual exchange

    A mutual home exchange is a property exchange within the United Kingdom. Council and Housing Association secure and assured tenants have the right to exchange their homes to suitable homes for them and their families.

    You will need permission from your Landlords in writing before you can exchange

  2. How long does it take to exchange?

    Depending on your exchange, how many parties are involved and whether you are moving long distance or moving within the local area, it can take up to 42 days for your landlords to agree on your exchange and give you permission to move from the day all parties involved hand in their mutual exchange application forms.

  3. I have some rent arrears can i still exchange

    No, you need to pay your rent up to date and then you can exchange

  4. My home is in need of repair my garden is overgrown can i still swap

    The landlord will do a home check before they allow you to move. The Property Swap Shop advises you to do all simple repairs, cut the grass and make the place to look nice when a tenant views your property.

  5. Can I offer cash incentives to other swappers to move?

    No this is against housing policy and if you advertise this your council will not let you swap home.

  6. Can exchanges can be refused?

    Yes

    • If you have rent arrears and have been taken to Court.
    • If you have not kept to the terms of your Tenancy Agreement.
    • If the house you are wanting to move to is too big or too small for you and your families needs.
    • If the property was built for, or been adapted for a disabled person.
    • If the property has been designed for the elderly only and you are younger
  7. Can a mutual exchange affect my Right to Buy?

    Yes. When permission is given to exchange, This will end your tenancy and create a new tenancy. As a result, it is important for you to know that there are changes in the terms and conditions under the new right-to-buy rules, including the initial qualifying period and the way in which your entitlement to a discount is calculated.

    Ending your tenancy means that your entitlement to a discount and qualifying period will be under the conditions of the modernised right to buy. This means that:

    • you must have been a council or housing-association tenant for five years in a row before you can benefit from your right to buy (Your coucil or housing association will include your previous years as a tenant when they work out your eligibility and discount) and;
    • if you have not been a council or housing-association tenant for five years in a row, you must wait until the five-year qualifying period has passed before you can apply to buy your home.

    Your discount will start at 20% and rise by 1% a year for all house types (up to 35% of the market value or £15,000, whichever is lower).

  8. How much does Property Swap Shop charge to join the mutual exchange service

    Nothing, Property Swap Shop is FREE


ESTATE AGENT FAQ

  1. Whats in it for me?

    Using Property Swap Shop will increase your sales figures and lets face it ,thats not easy at the moment.

  2. And how exactly are you going to do that?

    By you putting all of your portfolio on our site. With other agents on board the choice for your clients is growing. Soon we will have everyone swapping somewhere!

  3. Sounds good,but why should we use you?

    Because we are the best. Posting on our site gives you wider coverage and its totally free to you. Incidentally, we support vendors using agents to oversee transactions.

  4. How does swapping work?

    Vendors use our site with the knowledge that everyone there is open to swapping. Once properties have been found, valuations are agreed, solicitors instructed, you do your bit and bingo another sale.

  5. Sounds like a nice idea.

    Yes, thankyou. The property market could do with a fresh idea to stimulate sales. Swapping goes some way to achieving that.

  6. Is swapping limited to just the UK?

    No,there are lots of Brits wanting to return to the uk, and as it happens, lots of unlet property prime for swapping abroad, for use as holiday lets.

  7. Any more bright ideas?

    Yes, properties no longer affordable can be swapped, repossessions can be avoided by downsizing. In fact there are many advantages to swapping.