New Build- Mortgage Product Incentive

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Buy a new build Reduced rates & Smaller deposits

How it works

1. Find one of our properties you love
2. Arrange your mortgage with one of our approved Own New mortgage brokers
3. They’ll help you determine if Own New's Rate Reducer or Deposit Drop is right for you
4. Own 100% of your new home

We have partnered with Own New to bring you a simpler, hassle-free way to get an affordable mortgage on a new build property.

Rate Reducer

Reduce your interest rate by up to 4% with Rate Reducer

Tackle the cost of living crisis with a reduced rate mortgage

- Lower Payments
- Sub 4% interest rates
- Own 100% of your property

It's a regular mortgage, just with lower monthly payments for the initial period. Own New's Rate Reducer makes your beautiful new home a reduced rate reality.

Deposit Drop

Get on the property ladder faster – only 5% deposit needed with Deposit Drop

Buy sooner with reduced deposit mortgages and competitive rates

- 5% deposit
- Great interest rates
- Own 100% of your property

No need for a large deposit or to turn to the bank of mum and dad. Own New’s Deposit Drop gets you into your beautiful new home faster.

FAQ’S

Who’s eligible to use Own New’s service? And how does it work?
Own New is open to anyone purchasing a new build property including first time buyers and home movers. They work with home builders and lenders behind the scenes, taking a fee from the home builders and using this with the lender to reduce the interest on mortgage payments for the initial term.

What properties are Rate Reducer and Deposit Drop available on?
Please speak to your local sales rep for information on which properties offer the Own New scheme.

Is it possible to combine Rate Reducer and Deposit Drop?
It's not currently possible to combine the two mortgage products.

Who will my mortgage be with?
Your mortgage is directly with the lender. Own New is the platform that sits between your broker and the lender to ensure you get a great deal.

How do I get started? How do I access this service?
Once you’ve found one of our properties you love, your local sales rep can recommend an Own New approved broker who will guide you through the mortgage application process.

Testimonial 1

“Although we have good jobs and have both had salary rises and can afford to pay a mortgage, we only had a small deposit and most deals were for a deposit of 10 per cent or more”.... “we would not have been able to buy it without the help of the Own New five per cent mortgage. We are so grateful.”

Lee and Caroline Gunning
Family of 4 (plus dog) who upsized into a larger property with Own New’s Deposit Drop

Testimonial 2

“The deal we have got will see us pay £1,050 a month on the mortgage for our own three- bedroom house while the flat we were sharing in Newcastle city centre was costing £1,200 a month to rent.”

Jack Williams and Jacob Clar
Young couple who bought their first home using Own New’s Deposit Drop