Own New Rate Reducer

We are excited to have partnered with Own New to bring you Rate Reducer, a new scheme designed to help first time buyers and home movers to access a more affordable mortgage by enabling access to a lower rate in the fixed period on your new Linden home.

What is Own New Rate Reducer?

Own New Rate Reducer could help enable you to unlock lower mortgage interest rates from a participating lender, over a fixed two- or five-year period, meaning your monthly mortgage payments will be more affordable during that time.

Linden Homes makes this possible by giving a financial contribution of typically from 3% to Own New who then pass this to your lender (after deducting their commission).

You’ll still own 100% of your home.

How does it work?

Select one of our high-quality, energy-efficient Linden Homes to call your own
An Own New approved mortgage broker will be able to help determine if Own New’s Rate Reducer is right for you
Continue your buying journey with Linden Homes to achieve 100% home ownership

Frequently asked questions

Who is eligible for Own New Rate Reducer?

This scheme is open to first time buyers and home movers purchasing selected new build homes and arranging a mortgage through a participating lender.

Which properties is Rate Reducer available on?

Please speak to one of our expert local sales consultants for information on which homes the Own New scheme is available.

Who will my mortgage be with?

Your mortgage will be directly with the lender. Own New is the platform that sits between your broker and the lenders participating in the scheme.

Is there a maximum property value of which I can benefit from Own New’s Rate Reducer?

Yes, there is a maximum value on the sale price of the property of £1,000,000 (one million).

How do I get started? How do I access this service?

Once you’ve found one of our homes you love, your local sales consultant can advise whether the Own New scheme is available on that home and recommend an Own New approved broker who will guide you through the mortgage application process.

More ways we can help you move

Home Stepper

In partnership with Sage Homes, Home Stepper is a shared ownership scheme meaning you can buy a share of your chosen Linden Home and pay rent on the remaining amount.

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Deposit Assist

Deposit Unlock means that whether you're looking to make your first or next move, a dream Linden Home could be yours with just a 5% deposit.

How does it work

Deposit Unlock

Deposit Unlock means that whether you're looking to make your first or next move, a dream Linden Home could be yours with just a 5% deposit.

How does it work

Introduce a friend

Introduce your friends to Linden Homes and if they buy from us, we’ll give you £500* to say thank you.

How does it work

Deposit Contribution

Dreaming of owning your first home or looking to make your next move? You could make those dreams a reality sooner than you think with our Deposit Contribution offer.

How does it work

Home Stepper

In partnership with Sage Homes, Home Stepper is a shared ownership scheme meaning you can buy a share of your chosen Linden Home and pay rent on the remaining amount.

How does it work

Deposit Assist

Deposit Unlock means that whether you're looking to make your first or next move, a dream Linden Home could be yours with just a 5% deposit.

How does it work

Deposit Unlock

Deposit Unlock means that whether you're looking to make your first or next move, a dream Linden Home could be yours with just a 5% deposit.

How does it work

Introduce a friend

Introduce your friends to Linden Homes and if they buy from us, we’ll give you £500* to say thank you.

How does it work

Deposit Contribution

Dreaming of owning your first home or looking to make your next move? You could make those dreams a reality sooner than you think with our Deposit Contribution offer.

How does it work

TERMS AND CONDITIONS

₸Own New Rate Reducer is only available on selected new build homes at participating developments. Speak to a Linden Homes local sales consultant for more information. The Own New Rate Reducer scheme cannot be combined with other offers or scheme. Participating lenders only. Own New Rate Reducer is available at the lender’s discretion. Mortgages up to a maximum value of £1,000,000 only. Rate reduction is for the fixed, introductory period of the mortgage only (usually 2, 3 or 5 years but this will depend on your individual mortgage). Your interest rate and mortgage payments will increase after the fixed, introductory period – please consult your independent financial advisor and/or your lender. See ownnew.co.uk for more information about the Own New Rate Reducer scheme. Linden Homes is not regulated by the Financial Conduct Authority (FCA) and cannot offer mortgage advice. Independent financial advice must be sought from a regulated mortgage broker to access this scheme. You should confirm with your independent financial advisor that the Own New Rate Reducer Scheme, and any mortgage deal available with the benefit of the scheme, is suitable for you, in your individual circumstances. The Own New Rate Reducer Scheme is an independent third party scheme. If you are eligible for the scheme, then Linden Homes will make a cash payment after completion of typically from 3% of the purchase price of the property to Own New, which will be passed onto the relevant participating lender (after deduction of Own New's commission) so that they can offer a mortgage product at a rate that is subsidised from their usual product range. Rate reductions, rates and savings are subject to availability of the Own New scheme. Any rates or savings quoted are examples provided for illustration only and you should not rely on them. The actual reduction, rate and saving you achieve will depend on your individual mortgage offer. References to reductions and any example rates and savings are as compared to the same mortgage without use of the Own New scheme over the fixed, introductory period of the mortgage. Mortgage offers will be made at the lender’s discretion and in line with lender’s criteria. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Terms and conditions apply https://ownnew.co.uk/terms-and-conditions/

Own New Rate Reducer