Part-Exchange Schemes for Retirement Property: How They Work (2026)

In short: with a part-exchange scheme, a retirement operator (or a company it works with) buys your current home so you can move into one of its new homes without waiting for a buyer. It can make moving faster and simpler. But operators themselves warn that you may get a higher price by selling on the open market, so compare the offer carefully and take independent advice.

How part exchange works

The details differ, but the four large operators we looked at describe a similar process:

The main benefits operators describe are a guaranteed buyer, no chain, no estate agent fees and a quicker move. Some also offer help with legal fees, removals or an extra two weeks in your old home after the sale.

What four operators say about their schemes

McCarthy & Stone: Part Exchange

• It arranges for three independent local estate agents and a RICS surveyor to value your home, then makes an offer based on their valuations.
• The process is free, with no obligation to accept.
• It lists no estate agent fees, £1,000 towards legal fees, free removals and up to two weeks in your old home after completion. Terms and conditions apply.
• Its own internal data says nearly 40% of its homeowners use the scheme.

Churchill Living: Home Exchange

• It arranges up to three independent valuations, free of charge, and makes you the best available offer from independent providers.
• It lists no estate agent fees, contributions to legal costs and an extra two weeks in your old home if you need it. Terms and conditions apply.
• It says the service is available at all its developments, for a brand new apartment.

Audley: Home Buying Service

• It gets valuations from local estate agents, then a partner company offers to buy your home as a cash buyer. If you accept, a RICS survey is arranged.
• If the offer is reduced after the survey, you do not have to accept it.
• The partner pays £1,000 towards legal fees if you use one of its panel solicitors. There is no charge for the service.
• It says all types of homes will be considered, whatever their value.
• It tells buyers that a commission may be paid to Audley sales staff by its partners if a part-exchange sale goes ahead.

Inspired Villages: Home Purchasing Service

• It pays for three independent local estate agent appraisals, and says it will tell you within five working days whether it can make a conditional offer.
• Any offer is subject to survey and Board approval, and may be revised after the survey.
• If it later sells your home for more than expected, you get 80% of the surplus above an agreed threshold.
• It is only for new Inspired Villages homes, not resales or rentals. Not every home will qualify, and costs you have already paid (such as estate agent fees) are not refunded.

Questions to ask before you accept

• Who is actually buying my home: the operator or a partner company?
• How was the offer worked out, and can I see the valuations?
• Can the offer change after a survey? How long does the offer last?
• Is the scheme open for the home I want, or only for certain new homes?
• What exactly is paid for (legal fees, removals), and are there conditions, such as using their solicitors?
• Does anyone earn commission if I accept?
• What happens if I already have an estate agent?

Audley says buyers should take their own advice on whether the service suits them, and Inspired Villages recommends independent financial advice. A solicitor you choose yourself can check the terms for you.

Thinking about the move as a whole

Part exchange only deals with selling your current home. You still need to understand the costs of the new one, such as the service charge and any fee when you sell or leave. Some operators charge an event or exit fee and some do not, so ask for every cost in writing before you commit. Our retirement flat buying guide covers what to check, and you can compare retirement properties near you.

Related guides

• Renting vs Buying a Retirement Property
• McCarthy Stone, Churchill, Audley and Inspired Villages Compared
• The ARCO Consumer Code: What Protection Do You Get?
• Retirement Village Fees Explained: Service Charges, Event Fees and Exit Fees

Sources

• Part Exchange (McCarthy & Stone)
• Home Exchange (Churchill Living)
• Costs and service charges (Churchill Living)
• Home buying service (Audley Villages)
• Home Purchasing Service (Inspired Villages)
• Occupancy options (Inspired Villages)
• What is sheltered housing? (Age UK)