Ways to Buy with Broadgate Homes: Part Exchange & First Homes

Broadgate Homes offers several ways to move into a new home, including Part Exchange for buyers who haven’t yet sold their current property, the Government-backed First Homes scheme for eligible first-time buyers, and a current incentive covering a deposit contribution or stamp duty, plus legal fees up to £2,000. The right route depends on individual circumstances, not which option sounds best on paper.

How does Part Exchange work with Broadgate Homes?

Part Exchange means Broadgate becomes the guaranteed buyer for a buyer’s current home, removing the risk of a broken property chain. Buyers can stay in their existing home until their new Broadgate home is ready, so the move happens on their own timeline rather than someone else’s.

The process starts with a valuation and survey of the current property, and terms are agreed individually. It’s designed for buyers who’ve found the right plot but haven’t sold their existing home yet, and it removes the uncertainty of relying on a private buyer further down the chain.

What is the First Homes scheme?

First Homes is a Government-backed scheme giving eligible first-time buyers a minimum 30% discount off the market value of a new-build home. It’s separate from Broadgate’s own deposit or stamp duty offer, and works differently.

First Homes is available on selected qualifying plots, with a maximum price after discount of £250,000 across most of England, or £420,000 in Greater London. Local authorities can set lower limits depending on local housing need. The discount is permanent. When a First Homes property is resold, the same percentage discount passes to the next eligible buyer, so the scheme keeps helping first-time buyers in that area over time. Every sale is approved by the local authority to confirm eligibility.

Am I eligible for the First Homes scheme?

Eligibility depends on being a first-time buyer, household income, and, in some cases, a local connection or key worker status. Buyers may qualify if they meet the following:

• First-time buyer status (if buying jointly, both buyers must qualify)
• Joint gross household income below £80,000 a year, or £90,000 in Greater London
• Any additional local criteria set by the local authority, such as a local connection or key worker status
• A mortgage or home purchase plan for at least 50% of the discounted price
• The home will be the buyer’s only or main residence

First Homes plots are clearly marked on qualifying developments. Eligibility is confirmed through the local authority, and the Broadgate sales team can guide buyers through the application.

What does Broadgate’s current buying incentive include?

Broadgate Homes’ current incentive gives buyers the choice of a 5% deposit contribution or stamp duty paid, plus legal fees covered up to £2,000. Unlike First Homes, it isn’t limited to first-time buyers or subject to income or local connection criteria, so it applies regardless of which buying route is used to fund the purchase.

Can Part Exchange and the deposit or stamp duty offer be used together?

Part Exchange and the current deposit or stamp duty offer can typically be combined, since one addresses selling an existing property and the other reduces the upfront cost of the new one. Availability depends on the specific plot, so it’s worth confirming with the sales team which options apply.