Buy a new home with a 5% deposit
Your new Chestnut Home could be closer than you think.
Chestnut Homes has partnered with OWN NEW to bring you a simpler and hassle-free way to get a mortgage on a new-build Chestnut Home.
Own New enables access to low-deposit mortgages with competitive rates.
The scheme is open to first-time buyers and people who have previously bought a home. So, it doesn’t matter whether you’re upsizing or downsizing this scheme could be for you.
When you apply for your Own New mortgage, you will be assessed based on your ability to make the repayments which means that, even if you are self-employed, have previously been furloughed or don’t yet have a credit rating, you can still be accepted for a standard mortgage.
What is an Own New mortgage?
- A standard mortgage, but tailored exclusively for people buying new-build homes.
- It’s arranged through an independent financial advisor who use competitively priced mortgage products, but you only need a 5% deposit.
- An Own New mortgage is ideal for people with low deposits or more complex financial circumstances.
How does it help the homebuyer?
- For first-time buyers and current homeowners, Own New means you could buy the new home you’re looking for much sooner. You can move with just a 5% deposit, rather than spending years saving for a larger one or trying to build equity.
- With an Own New mortgage, you go on to own 100% of your new home.
- There is no cost to the homebuyer for using Own New. Your home builder pays a fee that enables the lender to offer competitive, low-deposit mortgages on its newly-built properties.
Ready to get started?
Speak to one of our helpful Sales Executives at your development of interest who will give you the contact details of an independent financial advisor. They can then advise you on what you can afford and whether Own New is right for you.
Terms and Conditions apply. A minimum of 5% deposit is required. The Own New scheme is available with the purchase of a new home through Chestnut Homes, subject to terms and conditions.Download Brochure