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We are offering drop-in appointments across all our developments; however, should you wish to have dedicated time with our sales advisor, we encourage you to book ahead. Click here for further details.

Own New Rate Reducer

Move into your dream new-build home with this flexible mortgage scheme

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Own New Rate Reducer could be the key to your new home

Low-rate mortgages are back, so homebuyers can find their ideal Bellway home and access some of the most competitive interest rates on the market with the Own New Rate Reducer mortgage scheme.

With mortgage rates from below 1.01%*, Bellway’s partnership with Own New Rate Reducer can provide homebuyers with better monthly mortgage payments for an initial two- or five-year period, making it more affordable for first-time buyers and existing homeowners to move into their dream home.

Own New Rate Reducer is one of a selection of customer incentives available on selected Bellway plots and developments. Speak with our sales advisors at your chosen development to find out more.

Full terms & conditions available here

Own New Own New Rate Reducer

How does Own New Rate Reducer work?

Bellway gives a financial contribution of up to 5% directly to your lender, enabling homeowners to unlock lower mortgage interest rates over a fixed two- or five-year period through Own New Rate Reducer.

Buyers will own 100% of their home with a minimum of 5% deposit, benefitting from fantastic savings helping combat the cost of living.

Bellway will put you in contact with an accredited independent broker who is specially selected to give advice on the Own New Rate Reducer scheme, finding the best fit for you.

Speak with our friendly sales advisors to find out which developments and plots are eligible for the Own New Rate Reducer scheme and choose the perfect home for you.

Customers should always seek independent mortgage advice before making a final decision.

Find my home

How much you can save?

Cost savings with Own New...

* Example savings are based on an average Bellway house price of £310,000 with a 2-year fixed term.
10% deposit
Save £281 a month

For the initial period with Own New you'll have access to a mortgage rate of below 4.15% interest rate with a 3% incentive from Bellway on a 35-year term.

40% deposit
Save £385 a month

For the initial period with Own New you'll have access to a mortgage rate of below 1.01% interest rate with a 5% incentive from Bellway on a 25-year term.

Young couple moving home

Low-rate mortgages are back

You could save every month when you buy with us and Own New*.

How can it work for me?

Happy Bellway couple

First-time buyers

Own New Rate Reducer could be the opportunity you have been waiting for to get onto the property ladder with Bellway, available to a wide range of applicants with an affordable deposit, helping you to own 100% of your first home with access to significant savings.

  • Get on the ladder with a reduced financial impact
  • Own 100% of your home
  • As little as 5% deposit
  • Available to a wide selection of applicants
  • Expert independent brokers to guide you through the process
10-year warranty

Homeowners

Make the move to your dream Bellway home with access to reduced interest rates for the initial period. Plus, with the financial benefits of a new-build home, you could save money every month for what really matters.

  • Move into your dream Bellway home
  • Reduce your monthly mortgage payments for the initial period
  • Benefit from an energy-efficient new-build home
  • Save money for what matters most to you
1
Choose your ideal Bellway home

Speak with our sales advisors to discover which developments and plots are eligible for the scheme, enabling you to choose the home that best suits you.

2
Discuss the scheme with an Own New Rate Reducer-approved mortgage broker

These specially selected brokers will be available to answer any questions you may have.

3
Proceed with your broker and lender

Follow the carefully considered process with the experts guiding you every step of the way.

4
Get your keys

Move into your brand-new Bellway home and benefit from incredible savings.

More information about Own New Rate Reducer

How do I start the Own New Rate Reducer process?
A.

Browse our website for your ideal Bellway home and speak with one of our friendly sales advisors. Once you have found the home for you, we will put you in contact with an Own New Rate Reducer-approved broker to explain the process.

Do I have to be a first-time buyer to use Own New Rate Reducer?
A.

No, the scheme is available to both first-time buyers and existing homeowners.

Do homebuyers have to pay a fee to use the Own New Rate Reducer scheme?
A.

No, a percentage fee of 0.22% of the house price is subtracted from the 5% housebuilder contribution (0.15% if the incentive is 3%) and goes directly to Own New as their arrangement fee.

Will I be able to afford my mortgage when the Own New Rate Reducer scheme ends?
A.

Independent mortgage brokers will stress-test applicants’ affordability beyond the fixed term of the scheme, ensuring homebuyers are able to pay for their mortgage once the interest rates return to normal.

Where does the homebuyer’s contribution go for Own New Rate Reducer?
A.

Bellway’s contribution will go directly to your mortgage lender through Own New, allowing buyers to unlock lower interest rates for the initial period after moving.

Are there any legal restrictions to Own New Rate Reducer?
A.

The Own New Rate Reducer scheme is available on new homes, subject to terms and conditions, with a minimum of 5% deposit required. Please contact our sales advisors for any further information.

Who is it my mortgage will be with when using Own New Rate Reducer?
A.

Own New Rate Reducer just sits between your broker and lender, so your mortgage will be directly with the lender.

With Own New Rate Reducer, is anything different to the normal mortgage process?
A.

There is one small and simple addition to the normal process. A “Letter of Acknowledgement” must be sent from the developer to the buyer and broker, to be passed to the lender, before a mortgage offer can be made. Our sales advisor can arrange this for you.

Alternative ways to buy

Own New Rate Reducer is one of many purchasing schemes that we offer. No matter your circumstances, we have a range of available schemes designed to meet your needs.

10-year warranty

Affordable buying schemes

Ways to help you own your home

Express Mover

Express Mover

Move into your new home quickly and easily with our comprehensive service.

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Our service, our promise

Part Exchange

Take advantage of our part-exchange scheme – the stress-free way to move home.

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More than a home builder

All you need when it comes to finding your new home

Terms & Conditions

*Terms and conditions. Own New Rate Reducer is available on selected developments and plots only, and will include a housebuilder contribution of 3% or 5% of the house asking price which is passed directly to the lender (minus an Own New arrangement fee of 0.15% or 0.22% respectively) to secure a reduced mortgage rate for an initial period of 2- or 5-years fixed. After this period your mortgage rate is likely to increase.

Whilst stocks last, subject to availability. Speak to the sales advisor on your chosen development to discuss where Own New Rate Reducer is available.

‘Mortgage rate below 1.01%’ headline interest rate is based on market interest rate available as of 26.03.24 (and is subject to change) and is based on 40% deposit, 5% homebuilder incentive, 2-year fixed mortgage rate and 25-year term. Savings made in the initial 2-year fixed period.

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.

A percentage fee of 0.22% of the house price is subtracted from the 5% housebuilder contribution (0.15% if the contribution is 3%) and goes directly to Own New as their arrangement fee.

Applicable on new reservations only. Cannot be applied in conjunction with any other offers or selling schemes. We reserve the right to withdraw this offer at any time.

Bellway is not regulated by the FCA and offers no mortgage advice. Customers must take advice from a regulated mortgage adviser before proceeding.

Own New Rate Reducer is one of many incentive schemes and purchasing options available to Bellway customers.

Bellway may receive a commission when a customer completes on a mortgage arranged by our panel of independent mortgage advisors.

Your property may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it.