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.

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 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.