Glebe Farm
Discount Market Unit Application Process Clarification – Test Valley Borough Council
Key Factors:
- Test Valley Borough Council (TVBC) does not maintain a housing register for discounted market homes.
- Interested purchasers must register their interest directly with the developer or their agent.
- The Parish Council may also keep a list of interested residents if it wishes.
- Once marketing is approved, interested applicants must obtain and complete a Discount Market Application Form from TVBC's Housing Development Team.
- Completed forms should be submitted to HousingDevelopmentTeam@testvalley.gov.uk.
- TVBC will assess whether applicants meet the qualifying criteria.
Eligibility Assessment:
- TVBC may request evidence of:
- Local connection (e.g. council tax bills, utility bills).
- Household income. - If there are more eligible applicants than available properties:
- Priority will be given to applicants who are mortgage-ready and able to proceed first.
- Neither TVBC nor the Parish Council will rank qualifying applicants based on need or priority.
Important Guidance for Applicants
- Applicants must not make an offer on a discounted market home until TVBC confirms they are an approved qualifying buyer.
- Applicants should not pay any holding deposit until:
- They have been approved by TVBC, and
- Their offer has been accepted by the developer.
Summary of the Process
- Developer notifies TVBC when a discounted market home is nearing completion and provides evidence of the agreed discounted value.
- TVBC approves the discounted value and authorises marketing to begin.
- Developer (and Parish Council, if desired) maintains a list of interested applicants.
- Interested applicants complete and submit TVBC's Discount Market Application Form.
- TVBC verifies eligibility, including:
- Local connection.
- Household income.
- First-time buyer status. - Approved applicants receive consent from TVBC to proceed with the purchase.
- Purchasers must sign a Deed of Adherence, committing to:
- Resell the property only at the required discount.
- Sell only to future qualifying purchasers. - The S106 agreement contains additional provisions covering failed sales or situations where no qualifying applicants are available.