Middlesbrough Council recognises that many local people have been priced out of local housing markets, and has therefore introduced the discounted sale scheme. The council will work with local private developers to secure discounted sale properties on new housing developments. Discounted sale is a form of 'intermediate' affordable housing and the council’s scheme offers an alternative to shared ownership schemes. The scheme seeks to ensure that properties remain within the reach of people on local incomes, but without making housing schemes economically unviable.
Discount sales are typically sold at a discount of 20% from the open market value, however homes that are bought this way are secured via a S106 agreement, which means the house will never be sold at full market price. Not all of the discounted sale homes would necessarily be first time buyer properties, they could be for recently expanding families or older people looking to downsize in to more manageable accommodation. All applications for the scheme must be made through the developer of the property. The council will only accept applications referred by a developer or owner.
The discounted sale scheme is currently available at:
Phone: 01642 918397
Full details and conditions of the scheme are available in the low cost home ownership (discounted sale) policy and guidance document.