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Helping more people secure a new build home

Own New

If you’re looking to buy a new build home, ‘Own New’ could be the perfect match.

Own New is an initiative that brings home builders and lenders together to help more people secure a new build home. The scheme helps to create mortgages that offer lower rates for new build homes.

Own New is funded by housebuilders, who pay a small fee on completion of the sale. There is no cost to the homebuyer.  This means you get a normal mortgage and own 100% of your home.

Who is Own New available to?

The scheme is available to first-time and next-time buyers. So, whether you’re looking to get your foot on the property ladder for the first time, or thinking about purchasing your next home, Own New could help make that happen.

Many homebuilders across the country have signed up to offer the Own New scheme on their properties. To find out it is available in an area near you, you can visit Own New for more information.

Perenna Own New Rate Reducer

With a Perenna Own New Rate Reducer mortgage, you can get access to an exclusive mortgage product, which offers you a lower rate. And because the rate is fixed for the full mortgage term, it means you benefit from the reduced rate for the full term too. No teaser rates here!

Plus, you’ll receive all the usual benefits of a Perenna mortgage to enjoy:

  • Increased borrowing power – borrowing up to 6 times income, subject to criteria
  • Monthly payments that don’t change
  • Short early repayment charge to give flexibility
  • No maximum age caps, giving more options in later life

How much can I borrow?

This depends on a couple of things. We’ll need to look at the amount you earn and how much you spend. We do this to make sure you (and anyone else you’re buying a home with) can afford the mortgage.

How do I get a Perenna Own New Rate Reducer mortgage?

If the developer of your new build home offers ‘Own New’, they can put you in touch with an approved Own New broker. The broker will talk to you about the mortgage options available to you, including a Perenna Own New Rate Reducer mortgage.

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