Own New Rate Reducer is a low rate mortgage for new build homes
How it works
- See how much you could save with Rate Reducer using our calculator
- Speak to an approved Own New mortgage broker, who will help you determine if Own New's Rate Reducer is right for you
- Find one of our qualifying properties you love and Own 100% of your new home!
What is an Own New Rate Reducer mortgage?
An Own New Rate Reducer mortgage enables you buy a new build home with a lower interest rate mortgage. It’s a regular mortgage, just with lower monthly payments for the initial period.
Mortgage rates below 1.63% available with Own New Rate Reducer*
*Example assumes a 5% homebuilder incentive and is based on mortgage rates available in the market, with a 2 year initial period and an LTV of 85%. Savings made in the initial fixed period. Independent financial advice must be sought from a regulated mortgage broker to access this scheme. Your home may be repossessed if you do not keep up your mortgage repayments. Rates valid as of 16-09-2025
Buy a new build with a Rate Reducer mortgage and benefit from:
- Lower interest rates for the initial term
- Options for all deposit levels, from 5%
- 100% ownership of your home
- Availability for both first-time buyers and home movers
FAQs
Who’s eligible to use Own New’s service? And how does it work?
This scheme is open to anyone purchasing a new build property including first time buyers and home movers. Own New works 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 available on?
Please speak to your local sales rep for information on which properties offer the Own New scheme
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.
Testimonials
“To be honest, we would not have been able to move when we did if it wasn’t for the Rate Reducer scheme. Our mortgage on our previous home was expiring and the interest rate was doubling. We hated the fact that we would be pouring money down the drain in interest on a house which was too small but felt we didn’t have a choice but to stay and pay it.”
Emily Pearson and Joseph Charity (both 29)
Moved into their new home with their seven-month-old daughter, Elsie, and their Wire Fox Terrier, Daisy with the help of Rate Reducer.
“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
Independent financial advice must be sought from a regulated mortgage broker to access this scheme.
Your home may be repossessed if you do not keep up your mortgage repayments.
