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Own New Scheme – Approved Broker

Introducing the New Own New Scheme for Homebuyers – We’re an Approved Broker

Navigating the path to homeownership can be daunting. However, there’s good news for prospective buyers!

Introducing the ground-breaking Own New scheme, poised to revolutionize the way people purchase new build homes.

In this blog post, we’ll delve into the details, exploring its benefits and how it can help aspiring homeowners achieve their dreams.

What is the Own New Scheme?

The Own New scheme is a visionary approach to home buying that aims to make the process more accessible and affordable for individuals and families.

Developed in collaboration with developers and lenders offering exclusive mortgage deals with reduced rates and lower deposit requirements to those purchasing new build properties. Open to both first time buyers and those moving up the property ladder.

Key Features and Benefits:

Rate Reducer

The rate reducer scheme users participating homebuilder initiatives which when applied reduces the interest rate during the initial mortgage term. It’s a regular mortgage with 100% homeownership, just with lower monthly payments for the initial period.

Making the new build property purchase attainable with more affordable monthly mortgage repayments.

Deposit Drop

The Own New Deposit Drop scheme allows customers to buy a participating new build with a lower deposit, as low as 5%. Meaning no need for a large deposit or having to turn to the bank of mum and dad.

Making purchasing a new build property available and more affordable to a border range of people. 

Both schemes mean buyers aren’t penalised for having a small deposit or high monthly living costs.

Own New is available on flats, apartments and houses and both low and high-value properties. Subject to each lenders criteria and available on participating new build developments.  

How to Apply

Participating in the Own New scheme is straightforward.

  • Step 1 is to ensure the developer is participating in the Own New Scheme
  • Step 2 is to contact an approved broker to begin the mortgage application

Mortgage 1st is an approved broker and can advise customers on the Own New scheme.

To speak with one of our brokers, simply fill in this short enquiry form, mentioning Own New in the further details box.

The Own New scheme represents a significant step forward in making new build homeownership more attainable and affordable for individuals and families across the country. With its array of benefits and support mechanisms, this initiative empowers buyers to fulfill their dreams of owning a new home without undue financial strain.

Whether you’re a first-time buyer or looking to upgrade to a larger property, the Own New scheme offers a potential pathway to success.

* As with all mortgage applications, terms and conditions apply and subject to each lenders criteria.

** Your home may be repossessed if you do not keep up repayments in your mortgage.