Own New - Rate Reducer
Mortgage interest rates below 1.87%* available with the Own New Rate Reducer scheme.
How does Own New - Rate Reducer work?
Find your nearest development and contact your Sales Executive to discover which homes are available on the scheme
Dependant on the build stage of your chosen home, we could contribute either 3% or 5% of the purchase price towards your new home (subject to LTV ratio)
Own New will arrange for the contribution to go directly to your mortgage lender
Your mortgage interest rate could be reduced by up to 3.19%*
Enjoy lower monthly mortgage repayments for the first two to five years (subject to your initial term)
Own 100% of your new home!
*Example assumes a 5% homebuilder incentive and is based on mortgage rates available in the market, with a two-year initial period on an LTV of 75%. Savings made in the initial fixed period. 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 26.03.2024.
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 contribution from the home builders and using this with the lender to reduce the interest on mortgage payments for the initial term.
Please speak to your local Sales Executive for information on which developments and homes offer the Own New Rate Reducer scheme.
Own New Rate Reducer enables you to access lower interest rate mortgage products through selected lenders. Own New is the third-party that sits between your broker and the lender to ensure you get access to a mortgage that’s right for you.
Once you’ve found your selected Gleeson home, our Sales Executives can recommend an Own New approved broker who will guide you through the mortgage application process.
Gleeson Homes will make a cash payment of either 3% or 5% of the purchase price of the property to Own New, which will be passed on to the relevant participating lender so that they can offer a mortgage product at a rate that is subsidised from their usual product range. The percentage amount paid by Gleeson Homes is dependent on the mortgage product selected. The reduced rate will only be applicable for the initial mortgage term. Mortgage offers will be made at the lender’s discretion and in line with their criteria and, therefore, this offer does not constitute a guarantee of a mortgage offer. Gleeson Homes is not regulated by the FCA and offers no mortgage advice, so customers must take advice from a regulated, and participating, mortgage adviser before proceeding. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. Own New Rate Reducer is available on selected plots and development only and is available to both first time buyers and existing homeowners. Sales Executives will advise customers of eligible plots. This scheme is subject to status and participating lenders’ terms and conditions. Dependent on the lender’s requirements, this scheme may not be able to be used in conjunction with other Gleeson offers.