What is Own New?
Own New work with homebuilders, mortgage brokers and lenders to make selected new-build homes available through Own New products.
With Own New Rate Reducer, the homebuilder contributes towards your mortgage, helping reduce your interest rate and monthly payments. This can significantly lower your mortgage monthly payments during the initial mortgage period.
Own New Flex uses 3% of the property price to support your purchase. That contribution is first used to help reduce your mortgage rate and monthly payments. Any amount left over may be paid to you as Own New cashback. In some cases, Flex can also work alongside other homebuilder support, such as help with your deposit or stamp duty, or upgrades to your new home.
The rate and support available will depend on the property, the lender’s criteria and your individual circumstances. Not all buyers or homes will qualify.
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.
Real Life Reviews
“Rate Reducer kept our costs manageable and let us move into a four-bedroom home without stretching our budget.”
★★★★★
“Own New Flex helped us afford our four-bedroom home, and splitting the incentive also covered stamp duty when we needed it most.”
★★★★★
“Without Rate Reducer, we could not have moved when we did. It kept our monthly costs workable at the right time.”
★★★★★
