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Discount Market Value
Discount Market Value…What is it?
Discount Market Value 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.
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 can I buy a Discount Market Value home?
- Verify your eligibility - 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.
- Complete an application - 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.
- Reserve you new home - Once your eligibility is approved, you can reserve your new home and commence through the purchase process.
- Bloor Homes support - 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.
How does the Discount Market Value 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.
Check if you are Eligible to by a Discount Market Value home?
- 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. (Amount may differ depending on the site).
- 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.
FAQs
Frequently asked questions
We've gathered the most common questions from homebuyers like you, with clear, straightforward answers to help you feel confident every step of the way. Browse our FAQs to filter to the answer that matters most to you.
Any Discount Market Value 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.
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.
Yes, a deposit will be required as normal. The deposit amount may differ, depending on your chosen mortgage lender.
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.
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.
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.
Customer Stories
Happy homeowners
- Adele and Tom
First Time Buyers
"I'd definitely recommend Bloor, I've literally shouted about it to everyone."
Adele and Tom - First Time Buyers
Adele and Tom talk about securing their ideal, spacious Bloor home and the service they received.
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