Buy a New Build

Reduced Rates & Smaller Deposits
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
Suitable for houses and flats
We have partnered with Own New to bring you a simpler, hassle-free way to get an affordable mortgage on a new build property. You get a normal mortgage and own 100% of your home.
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Own New is a scheme designed to make buying a new-build home more affordable. An Own New Rate Reducer mortgage offers lower interest rates and reduced monthly payments for an initial fixed term of 2 or 5 years. It’s a hassle-free way to secure a better mortgage deal, helping you move into your new home with greater financial confidence.
Savings of up to £498 per month on mortgage payments available with Own New Rate Reducer
Example based on market interest rates, with an average house price of £360,000 and an average mortgage term of 35 years. Assumes a 5% homebuilder incentive and a 2 year fix, with 90% LTV mortgage.
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 22-07-2025

How it works

1.
Find one of our properties you love
2.
Speak to one of our approved Own New mortgage brokers, who will help you determine if Own New's Rate Reducer is right for you
3.
We will submit an LoA (Letter of Acknowledgment) to confirm the incentive and house price you would like to reserve and send this to your mortgage broker to apply for your mortgage
4.
Own 100% of your new home!
Mortgage rates below 2.18% 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 90%. 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 22-07-2025

Here’s an example of how Own New could work for you

House price
£360,000 
Deposit 
£36,000 (LTV 90%)
Home builder incentive 
5% (£18,000)
Rate Reducer summary:
Mortgage Interest Rate 
2.18%
Monthly Payment
£1,104
Rate Reducer savings (in initial term):
Monthly payment savings
£498
Additional capital repaid
  £5,178
Own New cash back
£869
*Rates valid as of 23/07/25 for 2 year fixed term. Savings based on average market interest rates. 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.
Calculate your own rates
If you have an idea of your new house price, and your deposit amount then you can use our Own New Rates Calculator to work out your monthly payments.
Calculate your Rates

FAQs

“I was convinced that shared ownership was my only option,” said Mr King, “but thanks to Stuart at The Mortgage Store and Own New, I can now call my home entirely my own. The Rate Reducer mortgage was a game-changer for me, allowing me to stay within my budget and still achieve full ownership. I’m incredibly grateful for the team’s dedication and expertise in making this happen.”
Mr King
Mr King purchased a three-bedroom property in Buckinghamshire with the help of Rate Reducer.
“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
Emily and Joseph, 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.
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.

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