On large development sites we have negotiated for some homes to be sold at a substantial discount off the open market price.

This Discount Sale (DS) model allows you to buy 100% of a property, but at a substantial discount off the open market value.

Prices range from £65,000 for a one bed flat to around £110,000 for a four-bed house, discounts can be upto 70% of open market value.

The prices are discounted by linking them to average income levels in the lowest quartile of earnings in York.

The prices below show the principle of the DS model in the context of a three bed house:

• Open market price: £299,995
• Discount: 68%
• Discount sale price: £95,315

The sale of DS homes is administered by housing associations.

The buyer obtains a mortgage for the discounted price and does not pay rent on the remainder. If you buy a discount sale home you cannot purchase any shares in the property as it is a 'fixed equity' home.

When you sell your home you will have to sell it at the same discount percentage at which you bought it. When you want to sell you must notify the housing association that manages your home.

Your home must be sold to someone who is unable to afford a home on the open market. We strongly advise that you seek legal advice as to how the property should be marketed to ensure that you follow the correct process.

View details of current affordable housing developments in York.