New housing scheme enables exclusive discount for County Durham residents

A small number of homes at Lambton Park are being offered at 80 per cent of the market value to people who live, work or have family ties to County Durham.

The Discount Market Value (DMV) scheme is set via a Section 106 Agreement between the developer and the local authority and aims to support local people and help first time buyers onto the property ladder.

Aisling Ramshaw, regional sales director at Miller Homes explained: “This is an exciting opportunity for people who have a connection to County Durham to secure their dream home at Lambton Park. We have had interest in Lambton Park from across the UK, as people look to move out of high-population areas and get more for their money here in the North East.

“This development sits in the beautiful surroundings of the Lambton Estate and captures the rich heritage of the area. By offering these homes at 80 per cent of their market value to people who already have a connection to the county, we can ensure that the community is safeguarded and the development’s location is further celebrated.”

“We often get asked questions around the logistics of home ownership through the DMV scheme, but rest assured when you buy the property, you will own 100 per cent of it. However when you come to sell the property you must do so on the same terms offering the same level of discount you received to the next purchaser – simply to ensure the property remains affordable.

“Our sales staff at Lambton Park are on hand to assist you in completing the application form and will then send it to the Council for approval. Once the Council has confirmed your eligibility you can proceed to completion of the purchase of the property by arranging your mortgage and instructing a solicitor.”