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How Own New Rate Reducer works.

1.     Find a quality Bloor home you love. 

2.     We’ll put you in touch with an approved Own New mortgage broker.

3.     They’ll help determine if the Own New Rate Reducer is right for you. 

4.     If it is, you’ll own 100% of your brand new Bloor home. 

How do I get started?

That’s easy. Simply find the Bloor home you love that’s eligible for the scheme and our Sales Team will recommend an Own New approved broker to guide you through the mortgage application.

Own New FAQs

Who’s eligible to use Own New Rate Reducer?

Anyone that would like to buy a new-build property, including first-time buyers and existing homeowners.

How are Own New able to provide lower interest rates?

Own New works with homebuilders like us and lenders behind the scenes. They take a fee from the homebuilders and use this with the lender to reduce the interest on mortgage payments for the initial term.

What homes are Own New Rate Reducer available on?

Get in touch with the development you’re interested in and our friendly, expert Sales Team will be able to advise you on which homes offer the 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.

Terms and Conditions

*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 60%. 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 30/08/2024.

Available on selected plots and developments only. Speak to a Sales Advisor at your chosen development to discuss where Own New Rate Reducer is available.

Own New Rate Reducer is not to be used in conjunction with any other offer or scheme

Subject to lender criteria and eligibility. The lender will carry out their normal criteria and affordability assessments before any Own New Rate Reducer subsidy is applied.

Bloor Homes will make a payment after completion of 3% of the purchase price of the property to Own New, which will be passed on the relevant participating lender so that they can offer a mortgage product at a rate that is subsidised from their usual product range.

Bloor Homes is not regulated by the FCA and offers no mortgage advice so customers must take advice from an approved regulated Own New mortgage broker.

Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

Our usual reservation and sales terms and conditions also apply. Please speak to one of our Sales Advisors for more details.

Rates correct as of 30/08/2024

 

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