Own New Rate Reducer | Countryside Homes

Own New: Rate Reducer and Flex

What are Own New Rate Reducer and Flex?

They are schemes that allow you to use our financial incentive to directly reduce the cost of your mortgage. Instead of a standard discount, we contribute these funds to your lender through the Own New platform, which significantly lowers your mortgage interest rate for the initial fixed term.

There are two products to choose from, depending on your needs:

• Own New Rate Reducer: Uses a 5% builder incentive to give you the largest possible rate reduction, maximising your monthly savings.

• Own New Flex: Uses a 3% builder incentive to reduce your mortgage rate, which can be paired with other builder incentives (like deposit contributions or stamp duty help) where available.

Crucially, 100% of the builder incentive works for you. Neither Own New nor the lender takes any fees or deductions out of it. And just like a standard purchase, you’ll own 100% of your new Countryside home from day one.

How does it work?

Select one of our high-quality, energy-efficient Countryside homes and speak to our sales team to confirm which Own New incentives are available on your plot
Step 2: Obtain a Letter of Approval from us
Step 3: Give this letter to an approved Own New mortgage broker. They will discuss your affordability, help determine if Rate Reducer or Flex is right for you, and handle the application process
Step 4: Continue your buying journey with Countryside Homes to achieve 100% home ownership, complete your purchase, and move in!

Estimate your monthly savings

Frequently asked Questions

How does Own New Rate Reducer work?

Own New Rate Reducer uses a 5% builder incentive to reduce the mortgage interest rate as much as possible. That can lower the monthly payment significantly during the initial mortgage period.

How does Own New Flex work?

Own New Flex uses a 3% builder incentive toward reducing the mortgage rate, while leaving room for other builder incentives where available. The exact structure depends on the home builder and the deal on the plot you are buying.

Do I get 100% of the builder incentive?

Yes. Own New is designed so the full builder incentive works for the buyer. Depending on the product and lender structure, that benefit may appear through a lower rate, cashback, deposit support, or a combination of these.

Do Own New provide my mortgage?

No. The mortgage is directly with the lender. Advice is provided by an approved broker where advice is needed. Own New sits between the builder, lender, and broker to help structure the incentive.

Do I own 100% of my home?

Yes. Own New is not shared ownership. You buy and own 100% of your home from day one, subject to the normal mortgage and conveyancing process.

Is Own New available on every new build home?

No. Availability depends on the builder, the development, and sometimes the specific plot. That is why the website should be treated as a browse-and-enquire journey rather than a universal product promise.

More ways we can help you move

Smooth Move

Take the stress out of selling with our Smooth Move scheme where we’ll help you sell your current home.

How does it work

Introduce a friend

If you recommend a Countryside Home to a friend and they buy from us, we’ll give you £2000* to say thank you.

How does it work

Deposit Contribution

Dreaming of owning your first home or looking to make your next move? You could make those dreams a reality sooner than you think with our Deposit Contribution offer.

How does it work

Home Stepper

If stepping onto the property ladder feels like an impossible task, then the Home Stepper shared ownership scheme available in partnership with Sage Homes could be for you.

How does it work

Smooth Move

Take the stress out of selling with our Smooth Move scheme where we’ll help you sell your current home.

How does it work

Introduce a friend

If you recommend a Countryside Home to a friend and they buy from us, we’ll give you £2000* to say thank you.

How does it work

Deposit Contribution

Dreaming of owning your first home or looking to make your next move? You could make those dreams a reality sooner than you think with our Deposit Contribution offer.

How does it work

Home Stepper

If stepping onto the property ladder feels like an impossible task, then the Home Stepper shared ownership scheme available in partnership with Sage Homes could be for you.

How does it work

Terms & Conditions: ₸Own New Rate Reducer is only available on selected new build homes at participating developments. Speak to a Countryside 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. Countryside 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 Countryside 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/

Own New: Rate Reducer and Flex

Own New: Rate Reducer and Flex

What are Own New Rate Reducer and Flex?

How does it work?

Estimate your monthly savings

Frequently asked Questions

Start your search today

More ways we can help you move

Smooth Move

Introduce a friend

Deposit Contribution

Home Stepper

Smooth Move

Introduce a friend

Deposit Contribution

Home Stepper

Still haven't found what you're looking for?

Property search quick links