Discount Full Ownership: What is it?

How can Discount Full Ownership help me buy a home?

What is Discount Full Ownership?

Discount Full Ownership, currently provided by innovative housing developer Pocket Living, is a scheme designed to make homeownership more accessible for middle-income buyers in London.

Supported by the Mayor of London and Homes England, Pocket Living delivers affordable homes for first time buyers, with properties selling for at least 20% below local market prices while allowing buyers to purchase 100% of the property.

This scheme offers eligible buyers the chance to own a new-build home at a discounted price, reducing the financial barriers to buying a property, especially for those who may struggle to purchase on the open market.

Properties under this scheme are available to those who live or work in the borough of the development, although this may extend to all London boroughs after a set period of time. You can find out more about Discount Full Ownership eligibility here.

How does Discount Full Ownership work?

Unlike the popular Shared Ownership scheme, where you part-buy and part-rent a home, Discount Full Ownership allows you to purchase the property outright, with no equity retained by the developer or local authority, no rent to pay, and no need for buying more shares.

The scheme is particularly suitable for first time buyers who are looking to get on the property ladder and have some savings to contribute to a deposit. Discount Full Ownership homes are often compact, modern, and energy-efficient, designed with affordability and sustainability in mind.

Where can I search for Discount Full Ownership homes?

If you’re ready to start your Discount Full Ownership property search, head to our property portal to look for available homes in your desired location. You can also find out more information about the scheme, including eligibility and affordability right here on Share to Buy.