Own New Rate Reducer

Everything you need to know about the Own New scheme

Mortgage rates below 2.25% available with Own New Rate Reducer*

Own New is a brand-new scheme exclusively available on new-build properties and open to first time buyers and existing home owners.

Benefits of Own New


  • Reduced interest rates.
  • Available to use on eligible homes across our developments.
  • When you apply for your Own New mortgage, you will be assessed based on affordability, if you are self employed or were previously furloughed, you can still be considered for the scheme.
  • Own 100% of your home!

How it works


  • Ambassador Homes have partnered with Own New to bring you a simpler, hassle-free way to obtain an affordable mortgage on a new build property.
  • Find one of our homes that you love, then get in touch with our friendly sales team who will guide you through the next stage of the process
  • Arrange your mortgage with one of our approved Own New mortgage brokers

About the product

Rate Reducer

  • Access some of the most competitive interest rates on the market with the Own New Rate Reducer mortgage scheme.
  • Mortgage rates below 2.25% available*
  • Savings of up to £562 per month on mortgage payments*


Who’s eligible to use Own New’s service? And how does it work?

This scheme is open to anyone purchasing a new build property including first time buyers and home movers. Own New works with home builders and lenders behind the scenes, taking a fee from the home builders and using this with the lender to reduce the interest on mortgage payments for the initial term.

Which properties is Rate Reducer available on?

This offer is available on selected developments and plots only, subject to status and availability. Please speak to your Ambassador Homes Sales Consultant today for information.

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.

How do I get started? How do I access this service?

Once you’ve found one of our properties you love, contact the Ambassador Homes sales team today who can recommend an Own New approved broker who will guide you through the mortgage application process.


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*(Example assumes a 2.25 % homebuilder incentive and is based on mortgage rates available in the market, with a 2 -year initial period and an LTV of 75%. Savings made in the initial 2 -year fixed period. Independent financial advice must be sought from a regulated mortgage broker to access this scheme. Your property may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it)

Last updated on 17.05.2024

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