Own New has partnered with a select number of home builders to bring you a simpler, hassle-free way to get an affordable mortgage on a new-build property – for up to 95% of the purchase price.
It’s available for first-time buyers and homeowners alike, and it can be used to buy your perfect new home.
What is an Own New mortgage?
A standard mortgage, but tailored exclusively for people buying new-build homes.
It’s arranged through a lender in the normal way, using competitively priced mortgage products, but you only need a 5% deposit.
An Own New mortgage is ideal for people with low deposits or more complex financial circumstances.
How does it help the homebuyer?
For first-time buyers and current homeowners, Own New means you could buy the new home you’re looking for much sooner. You can move with just a 5% deposit, rather than spending years saving for a larger one or trying to build equity.
With an Own New mortgage, you go on to own 100% of your new home.
There is no cost to the homebuyer for using Own New. Your home builder pays a fee that enables the lender to offer competitive, low deposit mortgages on its newly-built properties.
Own New is increasing the accessibility and affordability of mortgages for new homes, and it’s available for buyers with a small deposit – just 5% is all you need.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Terms and Conditions apply. A minimum of 5% deposit is required. The Own New scheme is available with the purchase of a new home through participating developers
only, subject to terms and conditions. Images for demonstration purposes only. Property specifications and elevations will vary.