Own New Scheme

Get your foot on the property ladder with the own new scheme. Get a cheaper interest rate from lenders who are part of the scheme, making your mortgage more affordable.

What is the own new scheme?

The own new scheme makes it easier and cheaper to buy a new build property by negotiating a lower interest rate from lenders taking part in this incentive. This makes your monthly payments more affordable, as well as paying less in total for the term of your fixed rate.

How does it work?

  • Who can use the scheme? This scheme is perfect if you’re a first time buyer or a second time buyer who are moving home. 
  • What kind of house can I buy? This scheme is for new buy homes only.
  • What deposit do I need? You’ll need a deposit of between 5-10% of the properties purchase value to take part in the scheme. 


Not sure what next step to take to take part in the own new scheme? Get in touch and we can run you through the process step by step, as well as recommending the lenders who are currently taking part in the scheme. 

friends who have just used the own new scheme

You can ask us anything!

There are plenty of rules and regulations when it comes to buying a home so, understandably, you might be confused about where to begin. If you get one mortgage offer from a mortgage provider, you might assume that this represents the kind of offer that you are likely to get from all lenders – but this isn’t necessarily the case.

Town & Country Mortgage Services offer a broker service that delivers expert advice and guidance during this daunting time – we have access to the vast mortgage market so you can be sure you’re getting the best deal.


Mortgage Broker Office

FAQ: Own new Scheme

Stamp duty is dependent of your own situation, however taking part in the Own New Scheme does not add on any other complications when it comes to if you need to pay stamp duty or not. Get in touch with our advisors if you’re unsure if you need to pay stamp duty and we can help advise based on your personal circumstances. 

Currently roughly four lenders are taking part in the Own New Scheme, however this is likely to change as the scheme continues. Our expert team can help recommend the best lender taking part in the scheme for your individual home buying journey. 

  1. Find a new build property with a home builder taking part in Own New. If you’re not sure who is taking part, get in touch and we can help point you in the right direction! 
  2. Arrange your mortgage with an own new approved broker. T&C will help you every step of the way to make your home ownership dream a reality.
  3. The rest of the process is the same as buying any other house! 

Once your fixed term mortgage on the Own New Scheme has finished, you’ll remortgage and have the same mortgage options as everyone else. 

T&C will help you get the best and most affordable new mortgage for your own financial and personal situation once the fixed term has ended. 

Discover More in Our Expert Guide.

Embark on your home-buying journey with confidence using our comprehensive First-Time Buyers Guide. This detailed resource is specifically created to guide new buyers through the exciting yet complex process of purchasing your first home.

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