In an exciting development for prospective homeowners, we’ve partnered with Own New to introduce lower mortgage rates for new home buyers. This offers the groundbreaking Own New Rate Reducer product. This innovative financial solution is set to revolutionise the way buyers purchase new build homes. It gives access to lower mortgage rates and reduced monthly payments for up to five years.
Own New Rate Reducer is a conventional mortgage model reimagined. It is designed to alleviate financial pressures during the crucial initial years of homeownership. The scheme is funded through a subsidy paid for by the housebuilder. This means customers get better mortgage deals on new build homes over older properties.
Supporting our customers
We’re committed to supporting our customers through their home buying journey. “The introduction of the Own New Rate Reducer underlines our dedication to offer innovative solutions that benefit our customers, whatever their situation” said Marcus Evans, Sales & Marketing Director at Newland Homes. “Own New Rate Reducer will be available at all of our development locations, dependent on eligibility. It’s more important than ever to offer financial solutions that can truly make a difference to people’s lives. Especially as they look to purchase one of our low or zero carbon homes.”
Simplicity and impact of the Rate Reducer scheme
Eliot Darcy, founder of Own New, emphasized the simplicity and impact of the Rate Reducer scheme. He stated: “In today’s challenging economic climate, we’ve partnered with national housebuilders like Newland Homes to introduce a straightforward solution. A regular mortgage with lower monthly payments. This initiative is making homeownership more accessible and affordable. This will allow people to pursue their dream homes without compromising their financial stability.”
The scheme reduces financial barriers associated with mortgage payments in the initial years. Newland Homes and Own New are opening the door to homeownership for many who might have thought it out of their reach. For example, first time buyers and those looking to move up the housing ladder.
Peter Edmonds, Managing Director of Central Financial Services, comments: “Without having access to the lower interest rates provided with a Rate Reducer mortgage, most people’s options become seriously limited. Many would have been faced with either taking out a longer-term mortgage, opting for a house in a lower price bracket, or simply to carry on living where they are.”
“Trained mortgage brokers will provide independent guidance to customers. Allowing them to compare all the options available and to ensure they get a mortgage product that is right for them and in their long-term financial interests” continues Peter.
The potential impact of Own New has been likened to the Government-backed Help to Buy scheme. This scheme aided the purchase of almost 390,000 new build homes over a ten-year period. However, unlike Help to Buy there is no upper price cap on the purchase price of a new home.
Range of hassle-free options
Newland Homes also has a range of hassle-free options to help people secure brand new, low and zero carbon homes, whatever their situation.
Click for further information on how to take advantage of Own New Rate Reducer . You can also visit Own New directly to find out more.
Mortgage eligibility is at the developer’s discretion. It is subject to receiving regulated advice from an independent mortgage broker and is also subject to lender terms and conditions.
Newland Homes Limited is a property developer registered in England and Wales number 2582221.
Registered office: Brighouse Court, Barnett Way, Barnwood, Gloucester, GL4 3RT.
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