Examples

Most of the swaps arranged during the pilot of the Swap-Homes service were simple and straightforward as in the first case below. The other two cases are more complex and involve less common circumstances. However, they illustrate how discussion and co-operation between the parties involved and a swap achieved a more satisfactory outcome for all.

1. Simple Straightforward Swap When Mrs Wilson of Leamington Spa was widowed in 1992, she made the decision that a smaller house near her grandchildren’s home would be more practical than living alone in her three bedroom semi with its large garden. Mrs Wilson therefore needed to move from one area of Leamington Spa to another. Fortunately, at the same time Mr and Mrs Gardner were living in a two bedroomed starter home close to Mrs Wilson's grandchildren in Leamington Spa, and wanted to move to a larger home and start a family. As both the Gardeners and Mrs Wilson had failed to sell their homes by conventional methods, they were pleased to be contacted by Peter Cooke of Swap-Homes who suggested that they literally ‘swap homes’. They did just that, and both still live in the homes they swapped today. The swap was so successful that they continue to exchange Christmas cards each year and have a chat when they occasionally bump into each other in Leamington town centre.

2. A Swap that Completed a Chain - Eventually Pauline and Alan Weighell had lived in Quarry Road, Kenilworth for 22 years. In that time they had extended and improved their 4 bedroomed home but it could never be the character home they desired. They saw an advertisement for a much larger 5 bedroomed chalet style house in the Kenilworth Weekly News placed there by Loveitts, Estate Agents. The Weighell's fell in love with Copper Beech House when they first viewed it and immediately put their own home on the market with Loveitts. The Wilson's had failed to sell Copper Beech House three years earlier and had let it since then. There were several parties interested in buying both the Wilson and Weighell homes but they all had other properties to sell. A buoyant market had suddenly stalled and none were in a position to proceed. Clare Thorndyke and Andrew Parris had a house in St Albans to sell and wished to buy the Weighell's house. Due to the lack of progress the Wilson's were again contemplating letting Copper Beech House when Chris Bevis of Loveitts suggested that they swap homes with the Weighell's. They could then let the Quarry Road house instead. The approach outlined in "Price/Value Flexibility" was used to agree the market value of both homes and decide the difference in value between them. Neither home was near a stamp duty threshold. The Wilson's paid 3% of the agreed market value to purchase Quarry Road and the Weighell's paid 4% to own Copper Beech House. The Weighell's moved into their new home at the end of 2004. The Wilson's first and only tenants in Quarry Road were Clare Thorndyke and Andrew Parris. It took them a further nine months to sell their home in St Albans and complete their purchase of the Quarry Road house from the Wilson's. Patience and the swap enabled all the parties including the Estate Agent to eventually get what they wanted when it all seemed very unlikely at one stage.

3. Compromise Avoided Mr and Mrs B were retired and spending most of the year at their villa in Spain. Maintaining their three bedroomed semi with a large garden in Leamington Spa was a burden and expense they wanted to be rid of. However they wanted to retain a home in Leamington and wished to buy a brand new two bedroomed luxury apartment in the town centre which they had fallen in love with. The developer had a part exchange scheme but saw no advantage in an exchange with the B's. Mr and Mrs A had a one bedroomed flat near Leamington town centre. They wanted to move to a larger home and start a family. Both couples had failed to sell their homes by conventional methods and were pleased with the suggestion they consider Swapping homes. They agreed to a Swap and it was then suggested the developer should again be approached about an exchange this time involving the A's one bedroomed flat. The developer agreed. The B's were prepared to move into a one bedroomed home rather then a two bedroomed one in order to sell their three bedroomed house. The Swap allowed them to avoid this compromise. (Unfortunately it has not been possible to reveal the identities of the parties and more of their details. This is because the B's do not want any information published that could be used to reveal the address of their unoccupied apartment)