Discounted Sale - (Low Cost Home Ownership)
The Council’s affordable housing policy allows us to require developers of large housing schemes to make a percentage of the homes they are building available as affordable housing.
Usually affordable housing is provided as homes to rent from housing associations or discounted sale properties.
Discounted Sale means that the properties are sold for a percentage of their open market value. The discount available varies between parishes.
Am I eligible?
Discounted Sale properties can only be sold to eligible households for the discounted price. This applies to the first sale and all subsequent re-sales.
Eligibility is proven if a household meets four criteria. An overview of each is shown below, the Low Cost Home Ownership guidance contains further details.
Ability to Purchase
If a household has sufficient funds available that would allow it to purchase one of five suitable properties in the parish on the open market then that household would not be certified to purchase a discounted sale property.
Available Funds = Mortgage in principle + savings + equity.
Households who will fully occupy the discounted sale property will be given priority. As a house is a substantial capital investment, one extra bedroom will be allowed. If a suitably sized household cannot be found, then households who will under-occupy will be eligible.
A local connection to a parish can take one of four forms:
- Resident in the locality for at least five years
- Previously resident in the locality for at least three of the last five years
- Family association with an existing resident of at least five years residence in the locality. Family association is defined as spouse, civil partner, parent, children and siblings. We will also allow family associations through marriage e.g. step parents, children and siblings.
- Permanent employment in the locality or acceptance of the offer of employment
The area needed to prove a local connection to gets larger the longer the property is available.
Households purchasing a discounted sale property should be able to demonstrate they are in need of housing. This could be leaving the family home, leaving a property after a relationship breakdown, leaving tied accommodation, or needing to move to the area to take up employment.
In the event that the Section 106 Planning Obligation contains different criteria, the criteria in the Planning Obligation will be applied.
|Town||Street name||Accommodation type|
|Cockermouth||Moor Park||1 x 2 bed house|
|The Laureates||3 x 2 bed, 7 x 3 bed houses|
|Woodville Park||6 x 2 bed flats, 8 x 2 bed houses, 5 x 3 bed|
|Dearham||Newlands Park||6 x 3 bed houses|
|St Mungo's Close||1 x 4 bed house|
|Great Broughton||Church Meadows||2 x 2 bed houses|
|Great Clifton||Mabel Wood Close||2 x 3 bed houses|
|Wigton||Kirkland Fold||10 x 2 bed houses|
|Grange Close||2 x 3 bed houses|
|Scholars Green||2 x 3 bed houses|
|St Cuthbert's Close||1 x 2 bed house|
|Workington||Cairns Chase||2 x 2 bed bungalows, 2 x 2 bed houses, 2 x 3 bed houses|
|Duffield Close||1 x 2 bed house|
|Wentworth Park||1 x 3 bed house|
How to Apply
New-build discounted sale properties are purchased from the developer, and are advertised via the developer’s sales office or website.
Re-sale discounted sale properties are typically advertised in the local paper or through estate agencies or web-based property sites.
When one of these properties becomes available, households need to apply to the Council to be certified as eligible to purchase it.
Please note that we are only able to consider applications when a property has either been released for sale by the developer or the existing owner has confirmed they have put the property on the market.Application for low cost home ownership
For more information about discounted sale properties, please contact us by email at email@example.com or read the Low Cost Home Ownership guidance.