Lower rate mortgages with Own New - are you interested?

Hopkins Homes has partnered with Own New to introduce an innovative new scheme that will provide much-needed assistance to homebuyers in the current market, impacted by higher interest rates.

Own New’s “Rate Reducer” is available exclusively on new build properties and offers homebuyers below market interest rates during the initial term of their mortgage.  The scheme functions similarly to a standard mortgage but leads to reduced monthly payments.

Duncan Jackson, Managing Director at Hopkins Homes, said: “This is a game-changing scheme for our purchasers that will make home ownership more affordable and accessible.”

“We’ve seen many potential buyers put their moving plans on hold because of rising interest rates, so it is great to be working in partnership with Own New to offer “Rate Reducer” to our customers.”

The Rate Reducer scheme benefits both first-time buyers and existing homeowners who are seeking to move. Importantly, buyers retain full ownership of their homes throughout the mortgage term, ensuring complete control over their property.

Eliot Darcy, founder of Own New, said: “Higher interest rates combined with high inflation and the resulting squeeze on household budgets have made it more difficult for people to purchase their next home. With the support of our house builder partners like Hopkins Homes, the “Rate Reducer” scheme is making it possible for buyers to purchase the home of their dreams, while keeping monthly mortgage repayments to a level they can afford.”

Hopkins Homes will contribute a percentage of the purchase price, which will be used in partnership with the lender to decrease interest rates on mortgage payments during the initial term for customers.

Jason Blunden, Managing Director at Evolve Financial Solutions commented, “This is a great scheme for new build homes that will help our clients benefit from lower monthly repayments.  The cost per month seems to be one of the final hurdles left for customers considering buying their first or next property and with this scheme, it is now making it more possible.”

“Rate Reducer” is available on selected plots only, and homebuyers are advised to speak with their Sales Consultant for further details. Mortgages are directly arranged with the lender and are subject to the lender’s terms and conditions.