Buy New Build Properties With Own New
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Buy a New Build
Flagstone have partnered with Own New to bring you a simpler, hassle-free way to get an affordable mortgage on a selective new build property. You get a normal mortgage and own 100% of your home.
Buy a new build
Reduced rates & Smaller deposits
• Reduced interest rates1
• Buy with a 5% deposit2
• Own 100% of your home
• Employed or self-employed
• Available for selective houses or flats
Speak to one of our experts today to discover how you can purchase a new build property.
How it works
1. Find one of the Own New properties you love
2. Arrange your mortgage with one of our approved Own New mortgage brokers
3. They’ll help you determine if Own New’s Rate Reducer or Deposit Drop is right for you
4. Own 100% of your new home
Two amazing products
Rate Reducer – Reduce your interest rate by up to 4% with Rate Reducer
Deposit Drop – Get on the property ladder faster – only 5% deposit needed with Deposit Drop
Own New Rate Reducer
Tackle the cost of living crisis with a reduced rate mortgage
• Lower Payments
• Sub 4% interest rates
• Own 100% of your property
It’s a regular mortgage, just with lower monthly payments for the initial period. Own New’s Rate Reducer makes your beautiful new home a reduced rate reality.
Own New Deposit Drop
Buy sooner with reduced deposit mortgages and competitive rates
• 5% deposit
• Great interest rates
• Own 100% of your property
No need for a large deposit or to turn to the bank of mum and dad. Own New’s Deposit Drop gets you into your beautiful new home faster.
Independent financial advice must be sought from a regulated mortgage broker to access this scheme. Your home may be repossessed if you do not keep up your mortgage repayments.OTHER HOME BUILDER INCENTIVES MAY BE AVAILABLE.
1 The quoted interest rate is applicable for the initial term of the mortgage.
2 The Own New Deposit Drop scheme is currently only available via Darlington Building Society and applies to restricted post code areas.
FAQ’S
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Who’s eligible to use Own New’s service? And how does it work?
This scheme is open to anyone purchasing a selective new build property including first time buyers and home movers. Own New works with selective 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.
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What properties are Rate Reducer and Deposit Drop available on?
Please speak to your local Flagstone Representative for information on which properties offer the Own New scheme.
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Is it possible to combine Rate Reducer and Deposit Drop?
It’s not currently possible to combine the two mortgage products.
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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.
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How do I get started? How do I access this service?
Once you’ve found one of our properties you love, your local sales rep can recommend an Own New approved broker who will guide you through the mortgage application process.
It can be a bit harder because some lenders apply different criteria to new builds (especially flats) and may limit the maximum loan-to-value (LTV) they’ll offer. Working with an independent, whole-of-market broker like Flagstone can help you quickly pinpoint lenders whose criteria fit your property type and circumstances.
Not automatically – rates are mainly driven by your LTV (loan-to-value), product type and lender policy, and a “new build” label doesn’t guarantee a cheaper deal. Some lenders may offer incentives or “green” products for more energy-efficient homes, so Flagstone can compare the whole market to see what’s genuinely available for your specific new build.
Yes, it can be possible (a 95% LTV mortgage), but it depends on the lender and often on the property type – houses are more likely than new-build flats to be accepted at 95% LTV. Flagstone can check lender criteria and any restrictions (for example, around builder incentives) so you don’t waste time applying to the wrong lender.
You start paying your mortgage from completion (when you legally complete and get the keys), not from exchange of contracts – your first payment is then collected on the date your lender sets shortly after completion. Because new builds can have longer gaps between exchange and completion, Flagstone can help align your mortgage offer and timing to reduce last-minute stress.
It varies by lender and property type: some lenders will go up to 95% LTV (loan-to-value) on new-build houses (5% deposit), while maximum LTVs for new-build flats are often lower, meaning a bigger deposit may be needed. Flagstone’s whole-of-market access makes it easier to compare realistic deposit requirements across lenders for your exact property.
The “mortgage” itself isn’t inherently better, but buying new can come with practical upsides like a brand-new home, modern standards and (often) better energy efficiency, which may broaden your product options with some lenders to also include green mortgages. Flagstone can help you assess deals alongside developer incentives so the overall package makes financial sense, not just the headline rate.
It can be, but it depends on your priorities and the specific development – buyers often like the “new” condition and modern efficiency, while the purchase process can involve exchange-before-completion timelines and lender criteria that differ by property type. Flagstone can sanity-check affordability and lender appetite early, so you know what’s feasible before you commit.
The core products are the same, but lenders often apply different rules for new builds (for example, maximum LTV limits and how incentives are treated), which can affect eligibility and deposit needs. Flagstone’s advisers and mortgage service centre can help manage the extra admin and criteria checks that new-build applications sometimes involve.
Not necessarily – pricing depends on the lender, your LTV, and the deal you choose, and some lenders can be more cautious with new builds (which can limit options rather than reduce cost). Flagstone can compare across the market and factor in incentives properly, so you can judge the true cost of the mortgage and the overall purchase.
Depending on your circumstances and where you’re buying, schemes may include Shared Ownership and the First Homes scheme in England, as well as using a Lifetime ISA bonus towards your deposit if you’re eligible. Government-backed schemes can change over time, so availability and rules aren’t guaranteed. Flagstone can help you understand which options are currently open to you and how they interact with lender criteria for new build properties.
