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Letter O

Outstanding discount

Also known as deferred discount. When someone purchases a property under the councils right to buy scheme depending on the time they have been with the council they have a right to a discount from the market value. This discount is given to them and the buy the property at the reduced price. However the discount is deferred, on the basis that should they sell the property within a given period of time usually 3 years they will have to repay all or part of the discount.