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Offering affordable access to housing on selected developments and plots.
Reduced Market Value, also known as Discount Market Value or Discount Market Sale in some areas, is a council homebuying incentive which helps buyers to secure their dream new-build home at a set percentage below open market value.
The scheme enables potential buyers to purchase a home at a reduced market value, with a discount of up to 30%* off the full price of the property, with reduction amount and eligibility varying dependent on your local authority.
This low-cost housing scheme is intended to provide families, individuals, and first-time buyers with better access to housing.
Eligibility criteria may differ depending on your council, but typically you must meet the following:
To find out more about your eligibility and the availability of reduced market value plots near you, contact the sales advisor at your chosen development or speak to your local authority.
A Reduced Market Value plot is an affordable property which is sold at a set percentage below the open market value, only available to an eligible buyer. This is sometimes referred to as a Discount Market Value home or a section 106 plot.
Yes, the discount is tied to the property in order to ensure it continues to help those in need of affordable housing – it must be sold at the same discounted rate at which it was purchased, other than in occasional circumstances depending on tenure.
Yes, with Reduced Market Value schemes you can purchase the house at a discounted price of full market value, and own 100% of the home.
Yes, you will still require a deposit as normal.
Reduced Market Value homes must be sold with discount applied, and buyers will need to undergo eligibility checks. This, as well as involvement from local authorities, can extend the selling process.
We had a great experience with Bellway and their customer service was excellent.Lauren and Nitesh, Bellway homeowners at Ellingwood
The low-deposit mortgage solution for new-build homes. Move now with a 5% deposit.
You could enjoy lower monthly mortgage payments with this flexible scheme.
First-time buyers can purchase their home with a discount of at least 30%.
*'Reduced Market Value' is subject to eligibility, terms, and conditions, and will only be available on selected plots and developments. Please speak to your sales advisor for further information and seek advice from your solicitor.