Discounted sale (Allerdale)

Discounted sale properties are  provided as part of new housing developments and offered to eligible households at a reduced price.

How discounted sale works

Properties are sold at a percentage of their market value. The level of discount varies depending on the area.

The discount is secured through a legal agreement, which means the property will continue to be sold at below market value in the future.

Who can apply

To be eligible, you must meet all of the following:

• show that you cannot afford to buy the property at full market value
• demonstrate a housing need
• have a local connection to the area
• show that the property is suitable for the size of your household

Your application will be assessed to confirm you meet the eligibility criteria before you can buy a discounted sale property.

A discounted sale property must normally be the only residential property you own. If you already own a home, it must be sold before completing the purchase.

Local connection

A local connection may include:

• currently living in the area or having lived there previously
• having close family living in the area
• working in the area

In some cases, the area considered local may change if a property has not been sold after a period of time.

Applying for a discounted sale property

You will need to:

• complete an application form
• provide evidence of your identity, income, savings and finances
• provide confirmation of a mortgage, if required

Applications for specific properties are only accepted when they are released for sale.

You can register your interest in discounted sale properties before one becomes available. If you are on the register, you will be notified and invited to apply.

Being on the register does not guarantee that you will be offered a property. You will still need to meet the eligibility criteria when applying for a specific property.

Important information before buying

Before buying a discounted sale property, you should be aware that:

• the discount will usually remain in place when the property is sold in the future
• the property may be subject to legal restrictions
• eligibility criteria will also apply to future buyers

Policies and guidance

Discounted sale properties form part of the council’s affordable housing scheme.

The following policies explain how eligibility is assessed: