If you listen in on conversations taking place in kitchens, pubs and workplaces around the country, property is always one of the hottest topics. With the slowing of the housing market, one aspect of the subject that is increasingly being discussed is the incentives offered by house building companies to tempt potential buyers.

The incentives are an attempt to lure in potential buyers who, with talk of an imminent dip in prices, are reluctant to splash out on a new home. House builders have responded to this with an array of sweeteners to make the prospect of purchasing a new build property with firms like Barratt and Wimpey more alluring. Examples of this include: giving away free carpets and curtains with every house; paying the buyer's stamp duty and paying the buyer's mortgage for one year after moving in.

Some of these incentive ideas are relatively new, but one of the older ones is for the house builder to offer a property part-exchange. This is where someone who wants to move into a new build house buys a house from the builder but also sells their current house to him (or her), for a below market value amount, thus part-exchanging their property.

At first glance, this might seem similar to what house buying companies do. However, there are a number of advantages of part-exchanging your home with a house buying company over a house builder:

1. House builders will only buy certain types of house. For example, most will not buy ex-council or leasehold properties. Most house buying companies will guarantee to make an offer on any property.

2. Many house builders will not buy out of area; that is, not outside of the area where the customer is buying the new build property. Many house buying companies are national companies, and will make an offer on properties in any area.

3. House builders have a finite amount of part-exchanges they will do in a year: when their quota is full, they will not do any more, limiting the options of people wanting to part-exchange. Some house buying companies have an annual turnover exceeding £70 million and are always ready to buy homes.

4. In order to qualify for a house builder's part-exchange, movers need to move upmarket and buy a home that is worth at least 30% more than the value of their current home. Most house buying companies have no such restrictions.