Buy a new build

Reduced rates & Smaller deposits

  • Reduced interest rates
  • Buy with a 5% deposit
  • Own 100% of your home
  • Employed or self-employed
  • Available for houses or flats

How it works

  1. Find a new build property you love
  2. Arrange your mortgage with one of our approved Own New mortgage brokers
  3. They’ll help you determine if Own New’s Rate Reducer or Deposit Drop is right for you
  4. Own 100% of your new home

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.

Two amazing products

Rate Reducer – Reduce your interest rate by up to 4% with Rate Reducer

Deposit Drop – Get on the property ladder faster – only 5% deposit needed with Deposit Drop

Rate Reducer

Tackle the cost of living crisis with a reduced rate mortgage

  • Lower Payments
  • Sub 4% interest rates
  • Own 100% of your property

It’s a regular mortgage, just with lower monthly payments for the initial period. Own New’s Rate Reducer makes your beautiful new home a reduced rate reality.

Deposit Drop

Buy sooner with reduced deposit mortgages and competitive rates

  • 5% deposit
  • Great interest rates
  • Own 100% of your property


No need for a large deposit or to turn to the bank of mum and dad. Own New’s Deposit Drop gets you into your beautiful new home faster.


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, taking a fee from the home builders and using this with the lender to reduce the interest on mortgage payments for the initial term.

We will arrange your mortgage directly with the lender. Rate Reducer has launched with Virgin Money nationwide. Deposit Drop will be available nationwide with a number of other lenders in the coming months.

It’s not currently possible to combine the two mortgage products

The Own New website shows a list of all participating house builders. Please visit

Once you’ve found a property you love, get in touch with one of our Own New approved brokers who will guide you through the mortgage application process.


“Although we have good jobs and have both had salary rises and can afford to pay a mortgage, we only had a small deposit and most deals were for a deposit of 10 per cent or more”…. “we would not have been able to buy it without the help of the Own New five per
cent mortgage. We are so grateful.”

Lee and Caroline Gunning
Family of 4 (plus dog) who upsized into a larger property with Own New’s Deposit Drop

“The deal we have got will see us pay £1,050 a month on the mortgage for our own three- bedroom house while the flat we were sharing in Newcastle city centre was costing £1,200 a month to rent.”

Jack Williams and Jacob Clar
Young couple who bought their first home in Durham using Own New’s Deposit Drop

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.