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.
Bovis 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.
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.
₸Own New Rate Reducer is only available on selected new build homes at participating developments. Speak to a Bovis 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. Bovis 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 Bovis 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/
References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith, Vistry Ventures or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.
