If you are looking to move, but affordability is an issue, you may be asking: What is Discounted Market Sale – and do I qualify?
The Discounted Market Sale (DMS) scheme is offered by councils and housing associations, to provide new homes for sale at a discounted price. The eligibility and criteria are set locally, and would-be home buyers must have a local connection to the area in order to qualify.
Herefordshire Council, in partnership with Lagan Homes at Kingstone Grange, is offering a range of 2 and 3 bedroom homes under the scheme at an exclusive discount of 20% off the full market price, making home ownership so much more affordable for local buyers.
How does the scheme work?
These properties are available in partnership with Herefordshire council at 20% below current market value, to home buyers who meet the criteria.
How do I know if I qualify?
To qualify for one of these exclusive new homes, applicants must demonstrate that they are:
- At least 18 years old
- Earning less than £80,000 annual household income
- Buying the home as their sole residence
- Unable to afford to buy a suitable home on the open market
- Able to demonstrate a good credit rating
- Able to secure a mortgage and afford the regular payments
How do I apply?
To apply, the application can be done in 4 easy steps:
- Contact Herefordshire Council to ask for your application pack
- Complete the forms and return all relevant documents
- An affordability assessment will be completed and local connection verified.
- If successful, you will then start the purchase process with Lagan Homes.
A limited selection of fabulous new two and three bedroom homes are available under the DMS scheme at this exciting new development just south of Hereford. These include The Bangor and The Bushmills, both delightful 2-bedroom terraced or semi-detached homes, and The Cavan, a beautiful 3-bedroom semi-detached home. Prices range from £167,000 to £208,000.
Annette Thompson, Head of Sales and Marketing at Lagan Homes comments: “With the Discounted Market Sale scheme, these homes offer incredible value, providing an affordable route for both first-time buyers and home movers towards owning a new home”.
There is always plenty of news coming out of the beautiful Lagan Homes development in Kingstone, Herefordshire.
Kingstone Grange is superbly located in the village of Kingstone in the upper Wye Valley. With the benefit of large gardens and distinctive elevations, this development is a sensitive addition to the scenic surroundings of the village.
Alongside the DMS homes, there is also a fantastic choice of other 3 and 4-bedroom homes available at Kingstone Grange, priced from £265,000.
Zac and Amy had previously been renting in Hereford, but when they discovered the homes that were available at Kingstone Grange for a stunning discount, they jumped at the opportunity:
“We are first-time buyers and have been on the lookout for a house for quite some time. In the current market, we were unsure whether we could afford to buy, but when we read about the Discounted Market Sale homes available at 20% off the full market price, we thought it was a no brainer!”
The couple chose the beautiful Bushmills home. A spacious 2-bedroom, semi-detached house on the edge of the development with a wonderful open plan kitchen/dining room space with French doors that lead onto the garden.
Zac continues: “The home itself is perfect for us as first-time buyers. There’s room to grow if we need it, but for now we’re just enjoying life as homeowners!”
As renters, the couple were eager to get onto the property ladder, but needed an affordable solution, something that Lagan Homes and Herefordshire Council are determined to offer to the eligible local community.
Annette Thompson, Head of Sales and Marketing at Lagan Homes comments: “The Discounted Market Sale Scheme has filled a gap in the market and has proven to be very popular. The scheme is providing a route into owning a home, for both first-time buyers and home movers at a 20% discounted rate.”
Annette summarises: “We are delighted to welcome Zac and Amy to the Kingstone Grange community as the first occupiers of our DMS homes here.”
The show home and marketing suite are open Thursday to Monday, 10am to 5pm.
To book a viewing, please call 07385 930740, or email Kingstone.sales@laganhomes.com
To receive an application pack email housingdevelopment@herefordshire.gov.uk
Alternatively visit Lagan Homes at: www.lagan-homes.com
Find the development at Sat Nav Postcode: HR2 9HN
