Own New

Own new is a new scheme which offers a better way to get a new home with a lower deposit.

What is Own New?

Own New enables access to low deposit mortgages with competitive rates. This could be as little as 5%.

You don’t need a large deposit or the ‘bank of mum and dad’, and you will own 100% of your new home.

The scheme is open to first-time buyers and people who have previously bought a home, including those purchasing higher-value properties and those purchasing a house or an apartment.

When you apply for your Own New mortgage from a participating lender, you will be assessed based on your ability to make the repayments. Own New offers a better way for people to buy a new home if they have a low deposit or non-standard circumstances. It is designed to create fairer access to home ownership for those who don’t have a ‘bank of mum and dad’ to draw on.

Subject to each lender’s criteria, Own New is available on flats, apartments and houses, low and high-value properties and there are no regional price caps. It is available for people buying their first home and those moving up the property ladder.

The scheme is fully privately funded, with no support from the taxpayer.

How it works

With Own New, we can arrange your mortgage directly with the lender in the usual way. Once accepted, you go on to own 100% of your new home.

Own New works behind the scenes. For you, this is a standard mortgage directly from the lender, with competitive rates.



Frequently asked questions

  • With a 95% mortgage will my repayments be really expensive?

  • Is there any cost for the scheme

  • Do I own the property in full?

Have a question? Let’s talk