Rate Reducer: Making New Build Homes More Affordable
Unlock Lower Mortgage Rates with Own New's Innovative Scheme
Own New's Rate Reducer is revolutionising the way buyers can access new build properties across the UK. This innovative mortgage scheme offers significantly reduced interest rates on new build homes, making homeownership more accessible for both first-time buyers and those looking to move.
Ready to explore available properties? Contact our New Homes Sales team today on +44 (0) 20 7087 5111 or email newhomes@jll.com
What is Rate Reducer?
Rate Reducer is a mortgage scheme that lowers your initial interest rate thanks to a contribution from participating home builders to your lender. Unlike shared ownership schemes, you own 100% of your property from day one.
Key benefits include:
- Lower monthly mortgage payments during the initial fixed term (typically 2-5 years)
- Financial contributions from builders (typically 3-5% of the property value)
- Available nationwide through over 160 participating home builders
- Access to more than 1,000 developments across the country
- Available to both first-time buyers and home movers
How It Works
Explore available properties using Own New's interactive map
Calculate potential savings with the Rate Reducer Calculator (for illustrative purposes only)
Speak with a qualified mortgage adviser who will provide regulated advice and handle your application
Complete your purchase and move into your new home, owning 100% from day one
Expert Mortgage Guidance When You Need It
Navigating innovative schemes like Rate Reducer requires expert financial guidance. Through JLL Residential's partnership with Lifetime Capital, you'll have access to professional, whole-of-market mortgage advice specifically tailored to schemes like Rate Reducer and other financing options.
Lifetime Capital understands that everyone's circumstances differ, which is why they offer personalised advice whether you're taking your first step onto the property ladder or you're a seasoned homeowner looking to move. Their expertise in specialist products like Own New's Rate Reducer ensures you'll get the most suitable mortgage solution for your needs.
As one of London's leading premier brokerages, Lifetime Capital combines unrivalled customer service with expert guidance, making the mortgage process straightforward even when exploring specialised schemes like Rate Reducer. For expert mortgage advice on Rate Reducer, contact Lifetime Capital today: Call 0203 963 9900 or email info@lifetimecapital.co.uk
Key benefits include:
- Kensington Mortgages
- Leek Building Society
- Darlington Building Society
- Furness Building Society
- Perenna
- Virgin Money
- Molo
Leading Lenders Supporting Rate Reducer
Rate Reducer mortgages are available through established financial institutions including:
- Kensington Mortgages
- Leek Building Society
- Darlington Building Society
- Furness Building Society
- Perenna
- Virgin Money Molo
Frequently Asked Questions
Is Rate Reducer the same as Shared Ownership?
No. With Rate Reducer, you own 100% of your home from day one. The scheme simply reduces your initial interest rate and monthly payments.
Who pays for the reduced rate?
The home builder provides a financial incentive directly to the mortgage lender, who then offers you a product with a lower interest rate.
What happens after the initial reduced rate period?
After the fixed term ends, your mortgage typically reverts to the lender's Standard Variable Rate or another specified follow-on rate. As with any mortgage, you're free to remortgage before this happens.
Is it available on all new build properties?
The scheme is only available on specific plots offered by participating home builders. Always check with the sales team to confirm availability.
Ready to Take the Next Step?
Explore available properties and calculate your potential savings today, then connect with the Lifetime Capital team for tailored advice on Rate Reducer and other mortgage options. Their whole-of-market approach ensures you'll find the perfect financing solution for your new build home purchase.
Visit the Rate Reducer Calculator or explore our properties below to find participating developments near you, and let our mortgage experts guide you through the rest of your homebuying journey.
Start your Rate Reducer journey today:
JLL New Homes Sales: +44 (0) 20 7087 5111 / newhomes@jll.com
Lifetime Capital: 0203 963 9900 / info@lifetimecapital.co.uk