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.
View Available PropertiesOwn 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
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
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.
Properties available under the Own New Scheme
FAQs
Who’s eligible to use Own New’s service? And how does it work?
This scheme is open to anyone purchasing a new build property including first time buyers and home movers. Own New works with home builders and lenders behind the scenes, repurposing the home builder incentive and using this with the lender to reduce the interest rate and monthly mortgage payments for the initial term.
What properties is Rate Reducer available on?
Please speak to a Wiggett Homes Sales Consultant for information on which properties offer the Own New scheme.
Who will my mortgage be with?
Your mortgage is directly with the lender. Own New is the platform that sits between your broker and the lender to ensure you get a great deal.
How do I get started? How do I access this service?
Once you’ve found one of our properties you love, one of our sales consultants can recommend an Own New approved broker who will guide you through the mortgage application process.
“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.
