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Please note, by ticking the checkbox below you consent to Bellway sharing your data with New Homes Mortgage Helpline (a trading name of The New Homes Group Limited) who will contact you to offer unbiased, reliable and professional advice on mortgages available from a wide variety of lenders. Bellway will receive a commission of £350 when you complete on a mortgage arranged by the New Homes Mortgage Helpline through this portal. This commission does not affect mortgage terms and is not charged to homebuyers.

Own 100% of your new apartment at Harbour Village, Northfleet for 80% of the open market value

Residents of Dartford and Gravesend, listen up! We’re offering affordable access to apartments in Northfleet, Kent.

What is the scheme?

Reduced Market Value is an initiative backed by the local authority where homes are available at a set percentage below open market value, up to 20% lower in this case, to help you get the keys to your kingdom. This scheme is only available to local residents or people who have a connection to the area (i.e. through work) to help ensure the local community find their place to call home.

It’s also known as ‘Discount Market Value’, ‘Discount Market Sale’, or ‘Section 106 plot’ – different names, same benefits.

A home for 80% of the market value at Harbour Village*

About the neighbourhood

Harbour Village is landmark development along the River Thames, with exceptional river views and direct connections to London. This desirable collection of homes – some of which enjoy river views – is sure to appeal to a range of purchasers, including first-time buyers and young professionals seeking to commute.

Experience true modern apartment living with high-quality amenities, like a terrace or balcony to every apartment. Residents are close to Bluewater Shopping Centre with over 300 stores for all your shopping needs; big, small, niche, and normal. Excellent transport links make this an ideal choice for commuters too, with Northfleet train station four minutes’ walk away for travel directly into London and Kent, plus Ebbsfleet International for high-speed trains to Stratford International and London St Pancras – also within walking distance of the development.

An apartment in Northfleet for just 80% of the market value – we’ll raise a hard hat to that

Life looks different for everyone, but that doesn’t mean owning a home should feel impossible.

Reduced Market Value offers a helping hand to people who otherwise wouldn’t be considering a new build because of property prices. 

You must be eligible for the scheme, of course, and this eligibility (and percentage discount) are council specific. To give you an idea, it typically looks like this: 

  • Your combined gross annual household income must not exceed 45% of the discount market value of the property
  • You have to have a connection to the local area, such as a family tie or through your work
  • You can’t purchase a Reduced Market Value plot as a second home
  • You have to be legally allowed to own a UK property 
  • You must have no other financial interests in any other residential properties (this is just a serious way of saying that this must be your only home). 

To find out more about your eligibility and the availability of Reduced Market Value apartments at Harbour Village, get in touch with our sales advisor or speak to the local authority.

What are the first steps to using Reduced Market Value?

The first step is often the most daunting, but that’s not the case here – simply come down and visit us at Harbour Village for a chat. We’ll tell you more about plot availability, give you the lowdown on eligibility, and point you in the right direction of what you need to do next. Or,  speak to the local authority.

The serious bits | RMV FAQs 

What does ‘open market value’ mean?

Open market value just means the price of a home when bought under ‘normal’ circumstances, with the price not dependent on any schemes or discounts.

What is a Reduced Market Value plot?

A Reduced Market Value plot is a home sold at a set percentage below the open market value, and is only available to an eligible buyer.

If I want to sell my RMV home, does it have to be sold at a reduced value? 

Yes, it must be sold at the same price it was purchased using the scheme, other than in occasional circumstances depending on tenure.

Will I own the home?

Yes, you’ll own 100% of your home.

Do I still need a deposit?

Yes, you will still require a deposit as normal.

Can I sell a Reduced Market Value home as normal?

Reduced Market Value homes must be sold with discount applied, and buyers will need to undergo eligibility checks. This, as well as involvement from local authorities, can extend the selling process.

The legal bits: *'Reduced Market Value' is subject to eligibility, terms, and conditions, and will only be available on selected plots and developments. Please speak to your sales advisor for further information and seek advice from your solicitor.

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