Buying a new build?

Love the idea of a fresh, shiny new home, but not sure if your deposit or budget will stretch far enough? We hear you. 

Between saving thousands upfront and juggling monthly costs, buying a home can feel like a financial balancing act. 

But with Deposit Unlock, Own New, and builder incentives, you have more options (and more breathing room) than you might think. 

Spend less upfront (hello, 5% deposit!) 

With Deposit Unlock, you only need a 5% deposit to buy a new build home. 

Here’s the clever part: we’re happy to accept your deposit from multiple sources – your own savings, a gift from family, an unsecured loan, or your builder (if they offer cash incentives). You can even mix these, for example part savings and part builder incentive, to make up your 5%. 

So, if the developer offers £5,000 towards your deposit, you might only need to save the other half. 

That means less time saving and more time planning your new space. 

A smaller deposit or lower monthly payments gives you more freedom to focus on the fun stuff – like that corner sofa you have been eyeing, or all the paint, tools, and finishing touches. 

It’s not just about saving money. It’s about making your home feel like yours, sooner. 

Save more each month with Own New 

Own New is a scheme designed to give you access to lower interest rates on new build homes. 

With a Perenna Own New Rate Reducer mortgage, that lower rate is fixed for your full mortgage term. No teaser rates. No nasty surprises. 

The developer pays a small completion fee to the scheme to make this possible, so you get predictable payments and long-term savings. 

You will also get the full range of Perenna benefits: 

• Borrow up to 6x your income (subject to criteria) 

• Monthly payments that stay the same 

• No age caps 
• A short early repayment charge, just in case life changes 

A real-world example 

Let’s say your new build home costs £300,000: 

• With Deposit Unlock, you would need a 5% deposit = £15,000 

• Your builder offers £7,500 as a deposit incentive.

• You only need to provide £7,500 yourself. 

Now, pair that with a lower rate through Own New, and your mortgage feels more manageable and exciting. 

How to get started? 

These schemes are available through participating developers and brokers. 

If you are working with a developer who offers Deposit Unlock or Own New, they can put you in touch with a mortgage broker who knows the ropes. They’ll help you find out which scheme suits you best and how to make it work for your situation. 

Buying a new build is a big step, but it does not have to be overwhelming. And if you can keep more money in your pocket for the things that turn a house into your home? That’s a win. 

You could lose your home if you don’t keep up your mortgage payments. 

Correct at time of publishing.