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Luxurious one bedroom DMS (Discount Market Sale) apartment in the brand new Dylon Riverside development. (Price includes 30% saving) Ready to move into this Summer!
WHAT IS DMS?
DMS stands for discount market sale'. This is a home ownership product designed to help eligible people get onto the property ladder. Through DMS, you can buy a property with a discount of 30% of the full market value. For instance, a property with a market value of £400,000 would cost you £280,000 after the DMS discount is applied.
HOW DO I FINANCE MY DMS PURCHASE?
To buy a home through DMS you will need to provide a deposit using savings and apply for a mortgage (minimum 50% gross value of the property) through a lender in the normal way. You must be a qualifying purchaser. All purchasers must sign a Statement of Truth.
HOW MUCH DO I NEED TO PAY AS A DEPOSIT? You will need a deposit of 5% of the purchase price.
DO I HAVE TO PAY STAMP DUTY?
If you are a first-time buyer, you do not pay stamp duty on a property's value up to £425,000.
WHAT HAPPENS WHEN I WANT TO SELL MY HOME?
You can sell your home at any time. You must sell the property with the same discount percentage that you received when you bought it. Your buyer must also sign a Statement of Truth. Terms and conditions apply to both the purchase and onward