An assisted move scheme is generally only offered for anyone looking to buy a new home from from a builder or developer. Builders like Persimmon Homes, Linden Homes, Countryside, Bloor Homes, Bellway Homes, Miller Homes and the New Homes Group to name a few, offer assisted move schemes. But does an assisted move scheme work to buy a secondhand home? Let’s take a look…
Assisted Move Schemes have been created by developers to help you sell your existing property. They have been formed to help you purchase a new home from the assisted move scheme provider. The assisted move scheme is designed to help you sell your house fast with help from the scheme provider.
But assisted move schemes only work if you are looking to buy a new home from the company offering the assisted move scheme.
You are probably wondering what does assisted move mean? Essentially assisted move schemes have been created by builders/developers to help you sell your existing property. In exchange for them helping you sell your property, you are able to go ahead and purchase a new property from them.
For everyone concerned, speed is the essence. The developer or assisted move scheme provider wants to help you to sell your house quickly, in order for them to sell you one of their newly built homes quickly. The quicker you sell your house, the quicker they sell-off another property on their development.
Assisted move schemes are a win-win, but they’re not for every one, as show in the review of the thread on Money Saving Expert below. You have to be prepared to be realistic with your home valuation in order to achieve a fast sale.
If you ask any estate agent to value a house to sell within 4-6 weeks, it’s going to be lower than a full value without these limitations. But if you go into a assisted move scheme with this in mind, then there’s no reason why it can’t work for you.
What are the benefits of an assisted move scheme?
There appear to be mixed views on how well this works and the benefits to you. Looking at this thread on Money Saving Expert, there’s a mixed bag of some who are for an assisted move, but it seems to me the majority on this thread are against it.
An assisted move with a developer like Linden Homes or City & Country is to sell your home within the shortest time possible. They would ideally like to have your home sold within around six weeks. Essentially, it’s in everyone’s interest to sell your existing home as quickly as possible.
The assisted move developer company will work closely with the chosen estate agent on viewings, negotiations and the sales process.
Some assisted move schemes offer to pay your estate agent fees.
Most allow you to select your new home with the developer offering the assisted move scheme at the beginning of the process.
The assisted move company will usually reserve your selected new home for a set period, which mostly seems to be around 4-weeks.
The assisted move scheme can usually be used on selected new homes only.
However, you can only use one of these assisted move schemes if you’re buying a new home. Plus the new home must be with the same company offering the assisted move scheme.
But what if you want to get the benefits of an assisted move scheme, but you want to buy a secondhand home instead? Is it possible to buy a second hand home with an assisted move scheme?
Not everyone wants to buy a brand new home. In fact as a percentage of people across the UK, it’s only a small percentage that buy new homes.
On the basis that between 170,000 to 250,000 new homes are built in the UK. Which includes both private and social sector homes, this isn’t a huge number considering how many people move each year.
But in the year to December 2018, only 165,160 were started. This is as per the extract below from the UK’s Ministry of Housing, Communities & Local Government.
“Annual new build dwelling starts totalled 165,160 in the year to December 2018, no change (0%) compared with the year to December 2017. During the same period, completions totalled 165,090 an increase of 1 per cent compared with last year.”
On this basis, that leaves many others who may be struggling to sell their existing home to move to a new dream life somewhere else in the UK. This situation could be helped with a second hand home assisted move.
I hope you’ve got something from reading this article on what is an assisted move scheme
If you’ve got something from this article on “what is an assisted move scheme” please share it on your favourite social media site.
Also, if you have any questions, please feel free to comment below too. Alternatively, if you need more help, please feel free to contact us on our contact us page here. Or join the discussion and ask your question in the property forum.
What Is An Assisted Move Scheme Definition (How It Works)
Lease Option vs Assisted Sale (What's The Difference?) Lease option vs assisted sale and what's the difference between these two solutions. Both of which help you to sell your home quickly. These contracts can be arranged within 30…
Article written by Russell Bowyer who has been investing in property since purchasing his first commercial property in the 1990's for his own Chartered Accountancy business. But his first property investment project was to turn an old dilapidated restaurant into a large 5-bed home, which he purchased for £117,500 and sold for £450,000 (to see an "after" photo of the house before it was sold see here: About). Russell owns a number of investment properties, which includes houses, flats and HMO's. More recently he has turned his creative side to investing in property using lease options. His largest lease option deal to date was to acquire 12 properties worth over £2 million for just £12, which means he paid just £1 to acquire each property!
