A more affordable way to own your home
Buying your first home can feel like a big step, particularly when house prices put the home you want just out of reach.
Through the Discounted Open Market Sale (DOMS) scheme, selected homes are available to eligible buyers at a reduced price, helping make home ownership more affordable.
You’ll still own 100% of your home, with no rent to pay on the remaining value.
Overview
What is the Discounted Open Market Scheme?
The Discounted Open Market Sale scheme helps eligible buyers purchase a new home for less than its full market value.
Homes offered through the scheme are typically sold at a discount of around 20% to 30%, although the exact discount and eligibility criteria will depend on the development and local authority requirements.
Unlike shared ownership, you’re not purchasing a percentage of the property and paying rent on the rest. You own 100% of your home from the day you complete, while benefiting from the agreed discount.
DOMS
Who is eligible for the Discounted Open Market Scheme?
DOMS is designed to help people who may otherwise struggle to afford a suitable home on the open market, with priority often given to buyers with a connection to the local area.
Eligibility criteria vary, but may include:
Being a first-time buyer or not currently owning another property
Having a local connection, such as living, working or having close family in the area
Having a household income within the limits set by the local authority
Purchasing the property as your main home, rather than as a second home or investment
Customer Stories
I was blown away by the exceptional build quality of my new home. The attention to detail is outstanding, and the overall layout of the development is a breath of fresh air and it’s clear that real thought has gone into the design. Homes aren’t crammed together like in so many other places; there’s space to breathe, relax, and truly feel at home.
Tom
Wow what an experience from start to finish. My sales advisor has been an absolute star plus equally as efficient and timely with our completion. The part ex above and beyond, having a week to move made a potentially stressful time most pleasant. We absolutely love our new home.
Janet
We had an amazing experience purchasing our first home with Owl. They made our experience so smooth and were always there to help. Thank you to our site manager for all his help and kindness once we moved in, we’re so grateful for the extra mile you go to ensure we were satisfied with our new home.
Sophie
We were supported the whole way through and their sales team put us at ease completely. As first time buyers it can be really daunting to start the process but we were never rushed and felt that there was a lot of choice for us to look at. Seeing our house being built has been a fantastic experience and we’re really happy here.
Sophy S
My husband and I recently visited Owl homes in Alderton and have to say we couldn’t rate Owl highly enough. Being in the new build business ourselves we were very impressed with the build quality and the layout of the development too.
Tracy
The sales staff were also extremely helpful, welcoming and knowledgeable, taking the time to answer questions and making the whole experience feel relaxed and informative. A really positive experience overall and definitely worth a visit if you’re considering a new home.
Sarah M
DOMS
Frequently asked questions
Got a question about the Discounted Open Market Sale scheme? We’ve answered some of the most common questions below to help you understand how it works and whether it could be right for you.
Do I own 100% of my home?
Yes. Unlike shared ownership, you’ll own 100% of your home from the day you complete. The difference is that you purchase it at a discount from its full market value.
Do I have to pay rent on my home?
No. There’s no rent to pay on the part of the property value covered by the DOMS discount.
How much discount will I receive?
The discount will depend on the specific home and the requirements of the local authority. DOMS homes are typically offered at a percentage below their full market value. Our sales team can confirm the discount available on each home.
Who is eligible for a DOMS home?
Eligibility varies depending on the local authority and development. It can include criteria such as being a first-time buyer, having a local connection, meeting household income requirements and buying the property as your main home.
What counts as a local connection?
This can include living or working locally or having close family in the area. The exact requirements are set by the local authority, so we’ll help you understand which criteria apply.
Can I get a mortgage on a DOMS home?
Yes, subject to your individual circumstances and finding a mortgage lender that supports the scheme. It’s worth speaking to a mortgage adviser early in your search.
Will I need a deposit?
Yes. The amount you’ll need will depend on your mortgage and lender requirements. Because you’re purchasing the home at a discounted price, the deposit required may also be lower than it would be when buying the same home at full market value.
Can I sell my DOMS home in the future?
Yes, but conditions will apply when you come to sell. The property will usually need to be sold with the same percentage discount so that it remains affordable for future eligible buyers. The exact resale requirements will be set out as part of the scheme.
Can I rent out my DOMS home?
DOMS homes are intended to be your main residence rather than an investment property, so restrictions on letting the property will usually apply. We can explain the specific conditions before you buy.
Are DOMS homes built to a different specification?
No. Our DOMS homes are built with the same care, attention to detail and quality standards we put into every Owl home.
How do I apply for a DOMS home?
Start by speaking to our sales team. We’ll explain the eligibility requirements, what information you’ll need to provide and help guide you through the application process.