Thanks for your advice,
After several trips around Mini dealers a maximum trade-in of between £8000 and £8200 was all we could get, or the same amounts to buy it cash!!. They all said that Mini values are dropping the One's are supposedly dropping by £175-£200 per month since April 05 and used Mini's on the forecourts are having to have their prices dropped as well.
Whilst Mini's are still a relatively good buy, we decided to look elsewhere, with a baby on the way my wife fancied a five door car and no hassle with pushchairs/babyseats etc...
So it's been marvelous owning a Mini but it is going to be replaced by a Vauxhall Corsa SXi 5 door (I know that sounds like blasphemy) but 0% finance, £8750 trade in, free insurance and £70 per month less to pay out swung it for us, especially the threat by one Mini dealer of dropping the trade-in by £150 per week we delayed ordering (don't need that attitude from a certain Mini dealer in Lancashire).
We've enjoyed looking at the Mini2 website and will have always have a soft spot for the Mini, one day we may return to the fold when the five door Mini arrives (???).