Own New mortgages

Making buying a new build home more affordable

Own New is a scheme to provide home buyers with competitively priced mortgage products, making buying a new build home more affordable.

Own New currently offers 2 mortgage products outlined below:

  • Own New Rate Reducer (ONRR) allows buyers to purchase a new build home with a lower interest rate mortgage. It’s a regular mortgage, just with lower monthly payments for the initial period.
  • Own New Deposit Drop (ONDD) enables home buyers to purchase a new build home with just 5% deposit and competitive interest rates.


Own New Rate Reducer is due to Launch in December 2023. Therefore, this document will focus on promoting the ONRR product to home buyers. We expect to launch Own New Deposit Drop

nationwide* within the next few months so please bear this in mind when planning promotional activities.

*ONDD is currently only available for specified postcodes and brokers in the Darlington area.

Own New – Reduced Rates & Smaller Deposits

Own New is aimed at creating a more open system of lending to make home ownership attainable to more people.

  • Low interest rates*
  • Buy with a 5% deposit
  • Own 100% of your home
  • Employed or self-employed
  • Available for houses or flats

Speak to our experts

With access to 1000s mortgages from over 90 high street lenders, we can help you find the right mortgage. Our five-star Google reviews back this up. Call us now and speak to a member of our experienced team.

How it works…

  1. Discover a new build that you adore and meets eligibility criteria.
  2. Secure your mortgage through an authorised Own New mortgage broker.
  3. Receive assistance in selecting the right option for you between Own New’s Rate Reducer or Deposit Drop.
  4. Achieve full ownership of your new home with the guidance of a professional tone of voice.

Collaborating for you

Own New collaborates behind the scenes with home builders and lenders to facilitate lower interest rates and smaller down payments on new construction mortgages. With us, you secure a traditional mortgage and retain full ownership of your home.

RATE REDUCER – Address the cost-of-living challenge by opting for a reduced-rate mortgage that offers lower monthly payments and competitive rates. With Own New’s Rate Reducer, your dream home becomes an affordable reality with reduced rates for the initial period.

DEPOSIT DROP – Purchase sooner with these reduced deposit mortgages offering competitive rates (only 5% deposit with great rates – 100% ownership guaranteed). Say goodbye to the pressure of saving a large deposit or relying on family support. With Own New’s Deposit Drop, you can swiftly move into your stunning new home.

EASY & ACCESSIBLE – With market leading products, Rate Reducer and Deposit Drop, you’ll be pleasantly surprised by how effortlessly accessible we make the process of purchasing a new home.

ASSESSED ON EARNINGS – Are you self-employed, previously furloughed, or working on building your credit? Own Mortgage can assist you. We evaluate applications based on your current earnings.

BUY NEW – Purchasing a new home offers the advantage of avoiding expensive maintenance and the hassle of updating outdated decor from a previous owner. Additionally, new homes are built with energy efficiency in mind.

To find out more about Own New, call the team on 03454 500200 or email hello@mortgagedecisions.com. Alternatively, visit www.ownnew.co.uk.


* The quoted interest rate is applicable for the initial term of the mortgage. Independent financial advice must be sought from a regulated mortgage broker to access this scheme


Because we play by the book we want to tell you that…

Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is £595.

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Frequently asked questions

What are the typical interest rates for New Build Mortgages?

Are There Any Specific Government Schemes or Incentives Available for New Build Mortgages?

Can I Use a New Build Mortgage to Purchase a Property That Is Still Under Construction?

What Factors Should I Consider When Choosing a Lender for a New Build Mortgage?

Are There Any Specific Government Schemes or Incentives Available for New Build Mortgages?

I would recommend using Mortgage Decisions as they made the process of choosing my first mortgage so easy to understand . They were very knowledgeable on all the products available ,but mostly they were prompt . Thank you in-particular to Toby and Louis.

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The best mortgage advisors in our opinion. I was kept up in the loop from day one. Extremely friendly and professional service. Thank you once again.

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As a first time buyer, I was in the dark on how the process worked but having the support Beccy and Mark throughout made our journey a lot easier. Both friendly, approachable and knowledgeable a broker. I would recommend.

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Would give them more stars if possible! John and Russell being on-hand, promptly respond and chase updates, they are unbelievably exceptional.

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Fantastic service from Mark on securing me a mortgage offer under my difficult circumstances, thanks for all the work and effort. A real asset to the business.

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