Introducing Own New: Rate Reducer
Buy Your New Berkeley Home With Lower Interest Rate Mortgages, for a Fixed Period, Enabling Lower Monthly Payments
What Does Own New Mean for Me?
Berkeley Group has always been passionate about building high-quality homes for everyone. Which is why we are excited that you can buy a Berkeley home with the Own New Rate Reducer scheme, a private scheme designed for owner-occupiers buying a new build home.
Own New Rate Reducer allows you to buy a new build home with lower interest rate mortgages, for a fixed period, enabling lower monthly payments. Whether you’re buying your first home, moving the family into a bigger home, or are looking to purchase a second home, Own New makes it easier to buy your dream home.
How Will It Help Me Buy a Home?
- You can buy a Berkeley Group home using Own New Rate Reducer giving you access to lower interest rate mortgages for a fixed period.
- Buy the Berkeley home you dream of.
- You’ll own 100% of your new home.
- You don’t need to be a first time buyer, you can buy a Berkeley Group home with Own New Rate Reducer even if you own a home and are looking to move.
How Does It Work?
Buying a Berkeley home through the Own New Rate Reducer is straightforward.
- Find your new home.
- Within five days of making a reservation, receive a Letter of Acknowledgment and send it to your mortgage broker to apply for an Own New mortgage. [1]
- Exchange with a valid mortgage offer and a minimum of 10% deposit for new build houses or 20% for new build apartments within six weeks of the reservations. [1]
- Wait for the build of your new home to be complete.
- Final step: you’re ready to move in.
Own New Explained
Example based on buying a house with a purchase price of £500,000 with a minimum of 10% deposit.
House
| Purchase Price | £500,000 |
| 10% Deposit | £50,000 |
| LTV Mortgage | £450,000 |
| Monthly Payment (Based on 5 year fix at a Own New rate Reducer of 2.68%) | £1,652 |
Example based on buying an apartment with a purchase price of £500,000 with a minimum of 20% deposit.
Apartment
| Purchase Price | £500,000 |
| 20% Deposit | £100,000 |
| LTV Mortgage | £400,000 |
| Monthly payment (Based on 5 year fix at a Own New rate Reducer of 2.1%) | £1,345 |
Brochures
Own New Leaflet
Own New is Available Across All Our Developments
Berkshire
Buckinghamshire
Hampshire
Hertfordshire
Kent
London
Oxfordshire
Surrey
Disclaimers
[1] The terms and conditions of the Own New scheme can vary depending on personal circumstances. Please speak to an Independent Financial Adviser for further information.
Own New is an independent scheme operated by Money Market Limited (registration number: 10821229). The Berkeley Group has not independently verified the information contained in this material and makes no representation as to its accuracy, completeness, or fitness for purpose. This communication is intended for information purposes only and does not constitute an offer, a recommendation or an invitation by, or on behalf of, the Berkeley Group. Please speak to an Independent Financial Advisor for further information.