WHAT IS IT?

The Own New Rate Reducer scheme was launched in February 2024, and aims to make home ownership cheaper for both second time buyers and first time buyers. The Own New scheme is powered by property finance company ‘Own New’, who work with lenders and homebuilders to allow potential homeowners access to the lowest rates in the market.

Dependent on the new Allison Home you choose, Allison Homes will contribute either 3% or 5% of the purchase price to access the scheme. If approved, this contribution would go directly to your mortgage lender via the third party provider ‘Own New’, meaning you then have access to much lower interest rates over a fixed period between two to five years.

HOW DO I APPLY?

Speak to a Sales Executive at your chosen Allison Homes development who will put you in touch with an independent approved Own New Mortgage broker to see if you are eligible.

LEARN MORE HERE FROM OUR BLOG

TERMS AND CONDITIONS

Own New Rate Reducer availability at lender’s discretion. Cannot be combined with any other offer. Allison Homes is not regulated by the FCA and cannot offer mortgage advice and cannot guarantee the making of an offer of a mortgage. Independent financial advice must be sought from a regulated mortgage broker to access this scheme. As part of the Own New Rate Reducer Scheme, Allison Homes would make a cash payment after completion of up to 5% of the purchase price of the property to Own New, which will be passed onto the relevant participating lender so that they can offer a mortgage product at a rate that is subsidised from their usual product range. Mortgage offers will be made at lender’s discretion and in line with lender’s criteria. Only available on selected plots and participating developments. Speak to an Allison Homes Sales Executive for more information. 1.87% rate valid as of 15.03.2024.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.