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Affordable access to housing available on selected developments and plots.
Reduced Market Value is a council homebuying incentive which helps buyers to secure their dream new-build home at a set percentage below open market value. It is also referred to as Discount Market Value or Discount Market Sale in some areas.
Potential homebuyers are able to use the scheme to purchase a home with a discount of up to 30%* off the full sale price, with this reduced market value amount and scheme eligibility varying dependant on your local authority.
This scheme champions low-cost housing, and is intended to provide families, first-time buyers, and individuals with better access to housing.
To discover 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.
The Ashberry staff have been so helpful and kept me informed throughout my journey. They are exceptional.”
Does it have to be sold at a reduced value?
Yes, the plot must be sold at a discounted rate as 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.
Will I own the home?
Yes, you will own 100% of the home with Reduced Market Value schemes even when you purchase the house at a discounted price of full market value.
Do I still need a deposit?
Yes, as normal you will still require a deposit.
Can I sell a Reduced Market Value home as normal?
When selling, a Reduced Market Value home 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.
*‘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.
