Own New Rate Reducer – Making Homeownership More Affordable

Savings of up to £466* per month on mortgage interest payments available with Own New Rate Reducer

We understand the challenges that sometimes come with buying a new home, that’s why we’ve partnered with Own New to bring you the Rate Reducer initiative—a hassle-free way to get an affordable mortgage on a new build property. You get a normal mortgage and own 100% of your home.

How it works
With reduced monthly payments and access to exclusive mortgage deals, you can move into your new home with greater financial confidence. Whether you’re a first-time buyer or looking to upgrade, Own New Rate Reducer helps you secure a lower-cost mortgage on selected new-build homes.

Step 1 – Choose one of our properties you love

Speak with our sales team to find out which homes are eligible for Own New Rate Reducer

Step 2 – Speak to our recommended mortgage adviser

Our sales team will provide the details of one of our Own New approved mortgage advisers, who will guide you through the process, following that we’ll provide you with a Letter of Acknowledgement for your chosen home.

Step 3 – Benefit from the Rate Reducer Mortgage

Our contribution will enable your lender to offer a reduced interest rate mortgage for the initial term.  Your mortgage will still be with your lender,  but you will benefit from lower monthly payments.

Step 4 – Enjoy your new home

Our sales team, will help you complete the rest of your home buying journey with us.

Own New is innovative mortgage solution is designed to lower your interest rate and make buying a new home more affordable.

 

For more details, check out the FAQs below. If you’d like to see if you’re eligible, get in touch with the our team —we’re here to help!

T&Cs
*Savings of up to £466 per month on mortgage interest payments available with Own New Rate Reducer
Independent financial advice must be sought from a regulated mortgage broker to access this scheme. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
* Example based on market interest rates, a house price of £319,950, a 5% Albemarle Homes incentive and a 2-year fixed, 90% LTV mortgage. Savings made in the initial 2-year fixed period. Rates valid as of 29/1/2025.  Your home may be repossessed if you do not keep up your mortgage repayments.
Own New Rate Reducer cannot be used in conjunction with any other promotions/offers, other than if stated.

  • Who’s eligible to use Own New’s service? And how does it work?

    This scheme is open to anyone purchasing a new build property including first time buyers and home movers. Own New works with home builders and lenders behind the scenes, taking a fee from the home builders and using this with the lender to reduce the interest on mortgage payments for the initial term.

  • What properties is Rate Reducer available on?

    Please speak to the Albemarle Homes sales team for information on which properties offer the Own New scheme.

  • Who will my mortgage be with?

    Your mortgage is directly with the lender. Own New is the platform that sits between your broker and the lender to ensure you get a great deal.

  • How do I get started?

    Once you’ve found one of our properties you love,  our sales team can recommend an Own New approved broker, who will guide you through the mortgage application process.

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