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Own New Rate Reducer
Dere Street Homes have partnered with Own New to bring you a simpler, hassle-free way to get an affordable mortgage on a new build property.
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How it works:
You get a normal mortgage at some of the most competitive interest rates on the market and own 100% of your home. You pay a lower monthly payment and the interest on your capital is less, so you are paying off more of your original loan each month!
- We could contribute between 3% & 5% of the purchase price of the new home as your ‘Incentive’
- The contribution goes to your mortgage lender (through the 3rd party Own New)
- The lender then uses this contribution to reduce the available mortgage rates
- Monthly Mortgage payments are then reduced for the initial period of the mortgage – either 2 or 5 years.
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How to buy:
- Choose one of our beautiful new homes
- Discuss your mortgage with our approved, independent Own New mortgage broker
- They’ll help you to see if Own New’s Rate Reducer is right for you
- You go through the normal Mortgage Application and home buying process with the usual approvals
- When you complete you own 100% of your new home with a normal mortgage and lower payments for the initial period or two or five years
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You can:
- Own 100% of your home
- be Employed or self-employed
- be First Time buyers or existing Home Owners
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About Rate Reducer
- Lower interest rates means lower payments each month
- Own 100% of the property
Rate Reducer – a regular mortgage, just with lower monthly payments for the initial period. Own New’s Rate Reducer makes your beautiful new home a reduced rate reality.
To find out which properties are available with the Own New Incentive scheme contact the Development Sales Manager at your chosen development.
Own New Rate Reducer is one of a selection of customer incentives available on selected Dere Street Homes plots and developments so if you feel it is not right for you talk to us and see how we can help!
The eligibility of Rate Reducer is at the discretion of Dere Street Homes and is subject to home buyers receiving advice from an Independent mortgage broker and the lender’s usual eligibility criteria and checks, terms & conditions. You must always obtain advice from an Independent Mortgage Broker on Own new Rate Reducer. Your home may be repossessed if you do not keep up your mortgage repayments.
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