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As a Guildford mortgage broker committed to building on its reputation as a provider of specialist mortgages in Surrey (take our mortgages for contractors and mortgages for teachers, for instance), it’s important to us that mortgages remain as accessible as possible.

So, when Own New – a company that works behind the scenes with home builders and lenders in order to deliver reduced mortgage rates and smaller deposit mortgages on new builds – was launched recently, our interest was piqued.

We’re delighted to announce that we are now part of the Own New family. But what exactly does this mean?

Cheap mortgage rates, low deposits

It sounds too good to be true, doesn’t it. However, through our affiliation with Own New – in as much as we’re an official Own New approved mortgage broker – we can now offer our qualifying clients cheaper mortgage rates on new build property purchases, even when the deposit’s as low as 5%.

Not only that, but the mortgage applies to both houses and flats, too. More importantly, the mortgage is classed a normal mortgage and you will still own 100% of the property.

Are you interested in reducing your rate by up to 4%? If so, read on.

How it works

Well, it starts with you – the purchaser.

Simply find a new build home that you’d like to buy (you can view a selection of qualifying properties here) and then speak with one of our mortgage brokers in Guildford.

Broadly speaking, there are two defined new build mortgage products available via Own New. These are the Rate Reducer and the Deposit Drop. During your mortgage consultation with us, we’ll be able to quickly establish which one is right for you. We’ll then handle the rest, just as we would with any other mortgage application.

Oh, and if you’re wondering how we can offer mortgages that are up to 4% cheaper than most of the rates you’re seeing today, it’s down to the fact that you will receive a subsidised mortgage instead of a cash incentive from the builder.

As housing pressures continues to grow in tandem with an ongoing cost of living crisis, organisations are developing innovative ways in which to address some of the ongoing economic and housing issues. We believe that this is one of the solutions.

Please note that that the reduced interest rate/lower monthly payments will be for an initial period of 2 to 5 years and you should factor in the rate increase once you come out of the deal.  We will be able to explain this in more detail to you.

Looking for the best new build mortgage deals? If so, contact Complete Mortgages’ team of Guildford mortgage advisers on 01483 238280 or by e-mailing info@complete-mortgages.co.uk.