Rate Reducer is a low rate mortgage for new build homes
Available to both first-time buyers and movers through high street lenders. Find a new home from over 160 participating home builders.
Unlock Lower Mortgage Rates with Own New Rate Reducer
Get a head start on owning your new build home. Rate Reducer is a scheme that lowers your initial mortgage interest rate, thanks to a contribution from the home builder to your lender.
Home Builder Boosts Your Mortgage
Home builders contribute (typically 3-5%) to your lender, reducing your interest rate for an initial period.
Own 100% From Day One
This isn't shared ownership. Enjoy lower payments and full ownership of your new home immediately.
For Buyers & Movers
Ideal for first-time buyers and existing homeowners looking for a new build property.
Nationwide Availability
Over 160 participating home builders and more than 1,000 developments with Rate Reducer.
Over 160 home builders offering Rate Reducer
How To Buy A New Home with Rate Reducer
A simple process to help you secure a lower mortgage rate on your new build home.
Step 1: Check out available properties by exploring our map
Explore new build homes from participating home builders on our map.
Step 2: See potential savings with the Rate Reducer Calculator
Use our calculator for an illustration of potential monthly savings. Note: this is for illustrative purposes only and is not financial advice or a formal quote.
Step 3: Talk to an approved mortgage broker
Use the calculator form to request contact from an independent, FCA-regulated mortgage broker (approved by Own New). They provide regulated advice and handle the mortgage application.
Step 4: Visit your home, complete the purchase & move in
Once your mortgage offer is in place and legal work is complete, you'll finalise the purchase, owning 100% of your new home from day one!
Find Your New Home
Discover new build developments offering Rate Reducer on our map. Coverage is always growing – be sure to also check with local home builders directly.
