Own New Rate Reducer mortgage strikes the right chord with Miller Homes customers

Own New Rate Reducer is a brand-new product that could enable customers to reduce the interest rate on their mortgage for a new Miller home for their initial mortgage term, while still owning 100 per cent of their property. Since launching Own New Rate Reducer on the 4th of March, Miller has had a surge of interest.

Anne Marie Britton, Group Sales and Marketing Director for Miller Homes, said: “We are delighted with the initial response to our partnership with Own New and the interest it has generated amongst potential house buyers. Given the number of enquiries we have received since launching, this is clearly a product that resonates with individuals and families that are considering their options for buying a new home.

“I look forward to developing our partnership with Own New over the coming months, and I hope first time buyers and existing homeowners who are thinking of making a move, will take the time to find out more about the many advantages Own New offers.”

Eliot Darcy, founder of Own New, said: “It's great to see Own New Rate Reducer resonating so well with customers. Alongside the national lenders and housebuilders like Miller Homes who have signed up to the scheme, we believe that Own New Rate Reducer will be a significant boost to many people’s home-buying dreams.

“People can benefit from Rate Reducer whether they have a small or large deposit. For some people who already have equity in their home, it could herald the return of the sub-one per cent mortgage deal. By working together, we are increasing mortgage lending opportunities and bringing the possibility of owning a new-build home to wider range of buyers."

Own New is open to anyone interested in buying a new build home, provided they have a 10% deposit. The Own New Rate Reducer mortgage is available on selected plots at Langley Gate in York, Spring Wood Park in Bramhope, The Avenue in Wakefield, Applewood in Mirfield, Holmebank Gardens in Honley, The Fairways in Wombwell and Simpson Park in Harworth now.