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We’re partnering with Own New to Offer Lower-Rate Mortgages for New Home Buyers!

Own New

We proudly announce our partnership with Own New to introduce the Own New Rate Reducer mortgage scheme product. This innovative scheme aims to make mortgages more affordable for individuals purchasing newly built homes, providing access to lower interest rates and reduced monthly payments during the initial mortgage period.

“Although we have had a good start to the year, we are still seeing many potential buyers putting their moving plans on hold because of affordability and interest rates. It is extremely pleasing to work in partnership with Own New and offer Rate Reducer to our customers – giving them access to highly competitive mortgage deals which make purchasing one of our new build homes so much easier.”

Caroline Van-Niekerk, Sales and Creative Director

How Does Own New Work?

Own New Rate Reducer Mortgages allow buyers to purchase newly built homes with lower interest rates and reduced monthly payments during the initial period. Own New collaborates with house builders and lenders to reduce the overall cost involved with mortgage loans on newly built properties, funded by house builders’ contributions towards the cost of the mortgage.

  • Find an eligible new build home you love.
  • Arrange your mortgage with an approved Own New mortgage broker.
  • Own 100% of your new home.

“In today’s economic climate, we’ve partnered with national house builders like Skipton Properties to introduce a straightforward solution—a regular mortgage with lower monthly payments. This initiative is making home-ownership more accessible and affordable, allowing people to pursue their dream homes without compromising their financial stability.”

Elliot Darcy, Founder of Own New

Own New news

Take Advantage of Reduced Rates & Affordable Home-ownership Opportunities

We encourage all interested parties to explore this opportunity for more affordable home ownership. Eligibility for Own New Rate Reducer mortgages will be based on affordability, subject to receiving regulated advice from our independent mortgage broker, the Mortgage Advice Bureau, and ultimately subject to lender terms and conditions.

“We calculated that on a 35-year mortgage, with a two-year fixed rate deal of 4.39% per cent, buyers of a new house priced at £525,000 would have been facing initial monthly repayments of £1469 on their property. A figure like that will be well above a lot of people’s budget levels, especially in the current financial climate.

Jo continued: “But with an Own New Rate Reducer mortgage of 2.39 per cent, buyers of that same property would be paying just £1108 per month on their mortgage for the first two years. That’s a significant saving of £361 a month.

“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.”

*Example is based on a 2 year initial period and an LTV of 60%. 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 28/02/2024.

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*Skipton Properties reserves the right to withdraw this offer at any time for unreserved homes.