Discount Market Sale …What is it?

Discount Market Sale is a shared equity scheme operated by Bloor Homes on selected homes for sale. The equity share purchased by a potential buyer will be a percentage of the full selling price of a selected home, typically 70% (% may differ depending on the site).

This reduced sum, is an initiative aimed at making home ownership more affordable to eligible purchasers seeking to get on the property ladder.

How does the Discount Market Sale Scheme Work?

The scheme is designed to make home ownership easier. It enables eligible applicants to buy a new home at a discount to the full market value, making it cheaper to realise the dream of owning your own home.

Your mortgage will be lower as you only need to buy 70% of you home, your deposit will be lower, as you only need to pay a deposit based on the 70%, (% may differ) you are buying and you still get all the benefits and quality of of buying a newly built Bloor Home.

How Can I Buy A Discount Market Sale Home.

• First verify your eligibility with our sales team and review our available properties. The Discount Market Sale homes will be advertised in our Sales Centre and on eligible development pages.
• Once you have chosen your preferred home; you then need to complete an application and provide all the necessary supporting documentation to confirm your eligibility to proceed.
• Once your eligibility is approved, you can reserve your new home and commence through the purchase process.
• Don’t worry Bloor Homes will assist you every step of the way and can provide support with the financial assessments and any required paperwork, ensuring a smoother route to owning your new home.

Check if you are Eligible to by a Discount Market Sale Home?

Eligibility for the Discount Market Sale scheme is based on specific criteria and may change depending on the location of your selected new home. However, typically applicants need to meet the following criteria:

• You must be legally allowed to own a property in the UK.
• Be a first-time buyer or not currently own a home.
• Your income, either jointly or individually must be less than £80,000 per year.
• Often, you must have a local connection to the location of the new home, through your current living requirements, work, close family or historic ties to the area (this can vary on location, check each individual development).
• You Eligibility must be formally approved by the Local Authority.
• You cannot purchase the property as second home.
• You must have no financial interests in any other residential property.

Don’t worry our Sales Team are here to help you and provide all the assistance you need to guide you through the application process. Please contact our sales advisor at your preferred development for more information.

How do I find Discount Market Value plots?

Any Discount Market Sale plot will be clearly indicated on our website and in the Sales Centre. If you are unsure, please speak to our sales advisor for more information.

Will I own the home?

Yes, you will own the home with the discounted price deducted from the full market value. The discount will always remain with the property even if you decide to sell in the future.

Do I need a deposit?

Yes, a deposit will be required as normal. The deposit amount may differ, depending on your chosen mortgage lender.

Does the home have to be sold at the Discounted Value?

Yes, the discount you received when you purchased the home stays with the property to ensure it continues to assist other Eligible purchasers to buy a home. It must be sold at same discounted rate it was purchased at.

Can I still sell my Discount Market Sale home as normal?

You will still be able to sell your home. However, the home must be sold with the same discount percentage applied when you purchased it and any potential buyer(s) will need to meet the same eligibility criteria as you. As when you bought the property, the local authority will need to approve the Eligibility of you purchaser before progressing any sale.

What if I’m not eligible?

If you aren’t eligible for the scheme, we have a selection of offers to help you buy your new home. Look at our Assisted Move, Part Exchange and Deposit Boost offers.

The Arches at Ledbury

How does the Discount Market Sale Scheme Work at the Arches?

Your mortgage will be lower as you only need to buy 80% of your home, your deposit will be lower, as you only need to pay a deposit based on the 80% you are buying and you are buying and you still get all the benefits and quality of buying a newly built Bloor Home.

Discount Market Sale plots at The Arches Ledbury may only be sold to a qualifying purchaser(s) who:

• Are at least 18 years old
• Are a member of a household having an annual income of less than £80,000 jointly or £40,000 as a sole income (or such other figure as the Council may agree)
• Is purchasing the Dwelling as their sole main residence
• Is unable to afford to buy a home suitable for their housing need on the Open Market
• Can demonstrate a good credit history (i.e. no bad debts or county court judgements)
• Can afford regular payments and costs involved in buying a Discount Market Sale home.
• Is able to secure a mortgage and have sufficient deposit to purchase, or otherwise, be able to demonstrate an ability to purchase.
• The Purchaser is (or in the case of a joint purchase, at least one of the joint purchasers) is in the Armed Services.

We can help

Don’t worry our Sales Team are here to help you and provide all the assistance you need to guide you through the application process. Please contact our sales advisor at the Sales Centre for more information.

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