When a builder applies for planning permission for a private housing site with over fifteen new homes, we can ask that a number of those properties are sold at a reduced or ‘discounted’ price as part of the planning permission.
These homes are then offered to people who can prove that they can’t afford to buy the property at the full price but can afford the discounted price. This discount will be attached as a condition on the deeds of the house. When the house is resold, it must once again be sold at the same percentage reduction of the new market value.
Our 'Discounted Housing' factsheet summarises all of the information contained on this page in an easy to read format.
People affected by demolition proposals in regeneration areas are given first choice. You will already be aware if you are affected by demolition plans, and we will contact you when a site becomes available.
Where there is not much interest in a particular scheme from these residents, the discounted properties will be made available to any person who may be interested. However, if you were interested in a particular house, you must be able to show us that you can’t afford the full market value, but that you can afford the reduced value.
No. Just because a property has been discounted, this does not mean that the design or quality is any different to the full price houses.
Nobody.
You would own the discounted property the same way as any other owner/occupier. The discounted homes scheme is there to help people who are struggling with the current high property prices. When the property is sold, the percentage discount will simply be passed to the new owner
Firstly, there is absolutely no reason why you could not complete one of our application forms if you are interested in a specific property.
However, there are certain things that you will need to consider:
Your application will be assessed, and points will be allocated according to your current housing situation.
No.
If you were to buy a discounted property, you would have to sell with the same percentage discount off the new market value. A condition would be attached to the deeds of the property to ensure that this happens.
You would have to give us up to three valuations by RICS qualified surveyors. We would then have to agree upon the value. When a valuation is agreed, we would try to find a buyer who meets the requirements of the scheme within 16 weeks. If the Council cannot find a buyer, you will be able to sell the property on the open market so long as it is offered with the same percentage discount.
There are no catches. Although you would never be able to sell the property at full market value, you would still make a financial gain on your property if house prices rise.
There are currently no discounted homes available for sale at the moment. The only ones that are now likely to be available are properties that come up for 'resale', as the discounted housing scheme is being phased out.
If you are affected by the demolition proposals in any of the Regeneration areas, please contact your local Community Housing Office:
Flint Street, Derker – 0161-652 8873
80 Tamworth Street, Werneth – 0161-770 4246
Alternatively, please feel free to contact us here at the Regeneration Directorate
Tel: 0161-770 4232 Fax: 0161-770 4410