Available to first-time buyers and existing homeowners, the Own New Rate Reducer scheme is making buying a brand new home so much more competitive.
Ediston has now signed up to this exclusive program so their buyers can take advantage of the massive mortgage rate cuts.
How does it work?
The Own New Rate Reducer works like a regular mortgage and is available with some of the top lenders. You’ve probably heard of big cash incentives from new home developers, well, instead of the cash incentive, 3-5% of the house price is contributed to the mortgage significantly reducing the monthly repayments through lower rates.
For instance, home buyers can access mortgage rates below 2.2% or save up to £504 per month.*
Which lenders are participating?
Own New Rate Reducer mortgages are available with Halifax, Virgin Money, Perenna and Furness Building Society via an accredited Mortgage Broker.
Who is eligible to access Own New mortgages?
The scheme is open to anyone purchasing a new build home with a developer signed up to the program.
To find out which Ediston homes have the Own New Rate Reducer incentive, contact us today.
*Example based on market interest rates, with an average house price of £360,000 and an average mortgage term of 35 years. Assumes a 5% homebuilder incentive and a 2 year fix, with 80% LTV mortgage. 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 your mortgage repayments. Rates valid as of 13/08/2024
