Access to assistance with purchasing or selling a home is one of the many advantages of buying a new-build property. Some housebuilders can offer exclusive mortgage deals via new-build mortgage specialists. A superb new option is now available to Erris Homes customers with the launch of the Own New Rate Reducer, a scheme which lowers the interest rate and monthly payments on a mortgage for homebuyers looking to purchase a home at one of our developments.
How does Own New work?
Own New takes a contribution from Erris Homes and uses it with the lender to enable a better mortgage for the customer. Erris pay a percentage of the purchase price, directly reducing the mortgage interest rate and effectively subsidising the interest for the initial term.
What are the benefits of a Rate Reducer mortgage to the homebuyer?
The homebuyer gets a reduced interest rate which directly benefits their monthly costs. The lower rate results in more capital paid down in the initial term. It’s a practical and sensible incentive which enables an affordable purchasing solution and supports prudent financial planning.
Who is eligible for a Rate Reducer mortgage?
Own New is available to homebuyers purchasing from a participating housebuilder in conjunction with an Own New Approved Mortgage Broker that specialises in new-build mortgages. Erris Homes have teamed up with Own New Approved Mortgage Broker, Evolve Financial Solutions, to offer the Own New Rate Reducer to homebuyers at our Calder Mews development in Greetland. The scheme is available on selected plots at Calder Mews and subject to all the relevant checks with the lender.
For more advice on the Own New Rate Reducer, please contact Evolve Financial Solutions by calling 01473 603 211 or emailing askus@evolvefs.com
We can also help with selling!
Erris Homes can also help you to sell your current home. Our Smart Move scheme takes the stress out of selling as we manage the whole process on your behalf. We find the right estate agent and the best price for your current home, and we’ll even pay the agent’s fees when the sale is complete. Further information about Smart Move can be found by clicking here.