A fantastic way to make your new home more affordable, helping you secure a lower interest rate and/or deposit. The Own New scheme means you can reduce monthly mortgage payments and move into a new home sooner. 

The Own New Rate Reducer scheme allows you to get a lower mortgage rate on our new homes. It’s available to all buyers, including first-time buyers and existing homeowners. The scheme works by providing financial support that reduces your monthly repayments, making new home ownership more manageable. 

Market Mortgage Limited manages the Own New Rate Reducer scheme, working with lenders to deliver the benefits directly to buyers. 

No. Eligibility for a mortgage depends entirely on your lender’s decision. The Own New scheme helps make your application more attractive, but it doesn’t override standard lending criteria.

Yes, you will need an accredited independent broker to provide advice and help you apply for the Own New mortgage scheme effectively. 

No, we can’t give mortgage advice. You should always get independent advice from a qualified broker experienced in the Own New scheme. 

After you buy your home, we’ll make a payment to Market Mortgage Limited, who pass it on to your lender. 

If repayments are missed, your home could be at risk of repossession. The Own New Rate Reducer scheme does not remove your legal responsibility to make mortgage payments. 

You are free to sell your home whenever you wish. The Own New scheme support is tied to the property during ownership but does not restrict future sales. 

The minimum deposit will be clarified during your mortgage application. The Own New Rate Reducer scheme may sometimes allow you to pay a lower deposit than standard mortgages. 

Talk to us today to find out more about the Own New scheme and how to apply. We’ll recommend an approved broker who can help guide you through the application process. 

The scheme is open to all buyers of new homes, including first-time buyers and existing homeowners, as long as you meet lender criteria.