Find a home with Own New

To be eligible for the Own New Rate Reducer, you must meet the relevant eligibility criteria:

• You must be at least 18 years old.
• You must be buying a new-build property.
• You can only buy a home from participating house builders and lenders.
• You must have a minimum deposit of 5% of the property you’re planning to buy.

No, the Own New Rate Reducer isn’t only available for first time buyers, it’s open to all eligible home-movers!

With the Own New Rate Reducer in place, your initial interest rate will be lower, reducing your monthly mortgage payments. The exact cost will depend on the property value, deposit amount, and mortgage terms. By easing upfront costs, this scheme can free up cash flow and encourage capital repayment.

The Own New Rate Reducer is available nationwide – with property coming soon to the Share to Buy portal!