Laburnum Lea

Own New Rate Reducer

Like the sound of reduced rate mortgages?

We have partnered with Own New to bring you a simpler, hassle-free way to get an affordable mortgage on a new build property. You get a normal mortgage and own 100% of your home. 

Mortgage rates below 1.75% with Own New Rate Reducer*

Savings of up to £312 per month on mortgage payments available with Own New Rate Reducer**

How it works

1. Find one of our properties you love 
2. Arrange your mortgage with one of our approved Own New mortgage brokers 
3. They’ll help you determine if Own New's Rate Reducer is right for you 
4. Own 100% of your new home 

Rate Reducer - Reduce your interest rate by up to 2.76% with Rate Reducer***

Tackle the cost of living crisis with a reduced rate mortgage 

Lower Payments 

Sub 2% interest rates 

Own 100% of your property 

It's 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. 

FAQ’S 

Who’s eligible to use Own New’s service? And how does it work? 

This scheme is open to anyone purchasing a new build property including first time buyers and home movers. Own New works with home builders and lenders behind the scenes, taking a fee from the home builders and using this with the lender to reduce the interest on mortgage payments for the initial term. We will contribute between 3% and 5%, dependent on the build stage of your plot.

What properties is Rate Reducer available on?

Please speak to our friendly sales advisor for information on which properties offer the Own New scheme. 

Who will my mortgage be with? 

Your mortgage is directly with the lender. Own New is the platform that sits between your broker and the lender to ensure you get a great deal. 

How do I get started? How do I access this service? 

Once you’ve found one of our properties you love, your local sales advisor can recommend an Own New approved broker who will guide you through the mortgage application process. 

Key Points

• Reduced interest rates
• Own 100% of your home 
• Employed or self-employed 
• First time buyers and home movers
• Available for houses or flats 
• Minimum 5% deposit required
• Not available in conjunction with other financial incentives
• Available on selected plots on selected developments
• Subject to eligibility terms and conditions. Exact eligibility requirements may vary based on the lender’s criteria.

For more information please visit: https://ownnew.co.uk/

INDEPENDENT FINANCIAL ADVICE MUST BE SOUGHT FROM A REGULATED MORTGAGE BROKER TO ACCESS THIS SCHEME. YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP YOUR MORTGAGE REPAYMENTS.                                                                                                                                                                                                             

*Mortgage rates below 1.75% available with Own New Rate Reducer                                                                                   

Example assumes a 5% homebuilder incentive and is based on mortgage rates available in the market, with a 2 year initial period and an LTV of 75%. Savings made in the initial fixed period.  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 15/12/2024                                                                                                                                                             

**Options to reduce mortgage interest rates by up to 2.76% through Own New Rate Reducer    

Example assumes a 5% homebuilder incentive and is based on mortgage rates available in the market, with a 2 year initial period and an LTV of 75%. Savings made in the initial fixed period.  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 15/12/2024                                                                                                                                                                                                                                   

***Savings of up to £312 per month on mortgage payments available with Own New Rate Reducer          

Example based on market interest rates, with an average house price of £310,000 and an average mortgage term of 35 years.  Assumes a 5% homebuilder incentive and a 2 year fix, with 75% 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 15/12/2024

Reserve your new dream home from the comfort of your own home for just £99

We’re all spending more time than usual in our homes at the moment, and while we might be restricted in where we can go, we can all still enjoy a bit of daydreaming and plan for a brighter future.  If spending time at home has made you realise you want more space or a garden, and your dream is to buy a new home, then we’ve got some good news for you!

Right now you can reserve a plot of your choice at selected Cruden Homes developments for only £99.

With a range of developments available across the east and west of Scotland, the £99 reservation offer lets you choose your perfect home in your ideal location. And by reserving your new home now, you will have first refusal on the plot when life returns to normal.

We understand that there’s lots of uncertainty just now and planning for the future may seem a real challenge. We’re here to make life a little easier. That’s why we’re offering a full refund on the deposit if your circumstances change.

Visit our development pages now to find out what's available.