Lower mortgage interest rates available through Own New Rate Reducer

Own New has launched a brand new ‘Rate Reducer’ product, offering customers access to reduced mortgage interest rates, exclusively to new-build homes.

Available to both first-time buyers and existing homeowners, homebuyers will have the opportunity to access lower mortgage interest rates, reducing their monthly payments for the initial term (two to five years, subject to agreed mortgage term and lender criteria).  
Rate Reducer has initially launched with two lenders; Halifax and Virgin Money. It is expected that other lenders will soon be offering mortgage products through the scheme. 

“Through offering the Own New Rate Reducer scheme we aim to help make moving even more affordable for our customers. Own New Rate Reducer is an innovative and helpful scheme that will provide customers with access to lower mortgage interest rates, saving them money on their monthly mortgage repayments during the initial term. This will enable customers to take their first steps onto the property ladder or for existing homeowners, make their next move sooner than they think. We look forward to supporting customers through their homebuying journey.”

Steve McElroy, Group Sales Director at Gleeson Homes

Independent financial advice must be sought from a recommended and regulated mortgage broker who will have completed training relating to the Own New Rate Reducer scheme. 
To find out more about the Own New Rate Reducer and how it works, visit: https://gleesonhomes.co.uk/own-new-rate-reducer/