Step 1; Conveyancing

The legal steps involved in buying properties are normally undertaken by a solicitor or Licensed Conveyancer. The Conveyance itself is the legal document which finally transfers the ownership of the property from Penrhyn Homes to the buyer. We give 4 / 6 weeks for the Conveyancer Solicitor to complete

Step 2; Deposit

You pay at or before exchange of contractors, to show Penrhyn Homes the purchase is genuine. If the purchase falls through it may not be refunded, depending on the circumstances.

Step 3; Completion

The title deed and keys are released in exchange for full payment of the purchase price. You can move in.

PART-EXCHANGE TO BUY A NEW HOME

Part exchange is a concept that yet many people are still unaware of the practice So we have decided to bring it to the attention of you home buyers out there looking at swish new homes in the latest developments. The idea is a simple one, and like many simple ideas a darned fine one too. Interested? Of course you are…

Click here for a Part Exchange Guide

Please note part exchange may only be appropriate on certain properties

How It Works

Part exchange works like this… If you have got your heart set on a brand new home in a particular development, it stands to reason that the property developer is just as keen for a definite sale as you. To ensure that this does happen in a quick-smart time, the developer will buy your existing home, thereby eradicating any chains or more specifically, any possibility of broken chains.

Who Can Do It

To be eligible you must be a homeowner who is looking to move up the housing ladder, and the homes of your dreams must be a new-build property. If you can tick those two little boxes you are well on your way to being a prime candidate for part-exchange.

Here’s what happens next

1) Penrhyn Homes would arrange for two separate independent surveyors which would give us a good idea of the value of your property. This would take on average seven days not like any other part exchange schemes where they give you 90% of the surveyors asking price. Penrhyn Homes will give you the 100% surveyors asking price.

2) Once you agree the offer, and subject to satisfactory surveys, the development company becomes your buyer, freeing you up to put in a confirmed offer on your new home.

3) After that, it is a case of setting a moving in date, boxing up your things, and basking in the relief of a quick chain – free move.

The Common Stipulations Are

A retention fee is usually held (generally around £500) to ensure that your existing house is in a satisfactory state before you vacate it.

This is returnable upon inspection.

End Of Completion

Penrhyn Homes arrange valuations from more than one independent surveyor so you can rest assure they are not simply choosing figures.

Click here for our Terms and Conditions

Smart investors buy direct from Penrhyn Homes

We offer a professional service to assist our investor buyers through all the elements of buying and letting a brand new property. It’s a complete one-stop solution to maximise the value of your property. From finance, legals and rentals to arranging furniture packs (even down to teaspoons!) to give your investment property added value. All backed up by our high standards of customer service.

Rentals and management

We can use our strong relationship with letting agents to find you the best rental rates for your property, and help you negotiate better commission rates and management fees. Penrhyn will help you find the right agent, and calculate likely rental incomes. Whatever level of management services you require, we can help you get the right package at the right price.

Finance

We can introduce you to expert independent professional advisers who can provide you with individually-tailored advice and help secure the best mortgage for your personal circumstances. They can meet you at the time and place that suits you and can also assist you with Inheritance Tax, portfolio planning matters and Capital Gains Tax.

Legals

As part of the service, Penrhyn will provide a list of recommended solicitors who have handled thousands of transactions for our homes over the years. They are fully independent companies who will look after your best interests and are completely familiar with all the Penrhyn legal documentation. They can offer a fast, effective service at competitive rates.

Furnishings

We work with top interior designers to develop superb furnishing packs which can maximise rental values at every level. With our considerable purchasing power, we have negotiated superb rates. All you have to do is select your choices and then relax, leaving the installation in the safe hands of our experienced professionals.

If you're thinking about an investment property, brand new Penrhyn homes have so many advantages over secondhand properties. Just take a look at the information below:

Buying a Penrhyn Home

• Our homes are covered for a decade by the NHBC warranty, which means you can buy with confidence.
• Our homes are ready for tenants to move in immediately.
• We can introduce you to independent financial advisers and solicitors who will act in your best interests.
• All new appliances and fittings mean no unexpected bills.
• We have many developments popular with investors because they are so well-located close to transport links etc.
• We work with top interior designers to develop superb furnishing packs to make the most of any home.
• Double-glazing in low maintenance windows as standard.
• Our strong relationships with letting agents can help you find the best rental rates.

Buying Secondhand

• Normally no guarantee, even after a survey.
• Might need renovation before a tenant can move in.
• Normally no cover for minor faults.
• No prior relationships necessarily exist.
• Appliances may be old and require maintenance.
• Attractiveness of locations for rental market can vary.
• Furnishing packs not normally available.
• You might have to add bathrooms to make a secondhand property more attractive to tenants.
• Insulation, double glazing and security in older properties unlikely to be as good as new.
• You'll need to develop relationships with letting agents.

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