Introducing Own New: Rate Reducer

What does Own New mean for me?

Own New Rate Reducer is a scheme designed to help you to buy a new build home with lower interest rate mortgages for a fixed period, resulting in lower monthly payments. Whether you’re a first-time buyer or looking to purchase a second home, Own New Rate Reducer makes home ownership more accessible. Even if you don’t fit the traditional lending criteria, you could still be eligible for a standard mortgage with a competitive interest rate.

L&Q will connect you with accredited independent brokers who specialise in the Own New Rate Reducer scheme, ensuring you receive personalised advice tailored to your unique circumstances.

How does Own New: Rate Reducer work?

Find Your Dream Home: Discover your perfect L&Q new build property
Arrange Your Mortgage: Speak with an approved Own New mortgage broker who will walk you through the process step by step.
Tailored Solutions: Expert brokers will evaluate your situation and help you decide whether Own New’s Rate Reducer is right for your needs.
Own 100% of Your Home: Enjoy lower mortgage interest rates for a fixed 2- or 5-year period*, thanks to a generous financial contribution of up to 5% directly from the builder to your lender.

Please note that Own New: Rate Reducer is not available on Shared Ownership homes.

What is Rate Reducer?

Tackle the cost of living crisis with a reduced rate mortgage

Great Rates
Lower Payments
Cash Back

It’s a regular mortgage, just with lower monthly payments for the initial period, cash back in some cases and you even pay down more capital because of the lower rate.

Own New’s Rate Reducer makes your beautiful new home a reduced rate reality.

Explore L&Q developments offering Own New: Rate Reducer

17 homes available now

Beauchamp Park

An exclusive collection of 1, 2, 3, 4 & 5 bedroom in Warwick.

Shared Ownership

Starting from

£50,000 for a 25% share

For Sale

Full market price from

£495,000

Warwick Station

Find out more

41 homes available now

Prime Point

Manhattan Studios, 1, 2, 3 bedroom apartments nestled within Greenwich Peninsula.

Shared Ownership

Starting from

£89,875 for a 25% share

For Sale

Full market price from

£410,000

North Greenwich Underground

Find out more

6 homes available now

Saxon Fields

New homes for sale in Euxton, Chorley

For Sale

Full market price from

£295,000

Find out more

Coming soon

Rockcliffe Square

Coming soon – A brand new collection of Studio, 1, 2 & 3 bedroom apartments in Plumstead available for Sale and through Shared Ownership

Pricing coming soon

Find out more

13 homes available now

Durton Grange

New homes for sale in Preston, Lancashire

For Sale

Full market price from

£249,000

M6 Motorway

Find out more

The terms and conditions of the Own New scheme can vary depending on personal circumstances. This scheme’s availability can vary based on the development and the criteria of the lender.

Own New is an independent scheme operated by Money Market Limited (registration number: 10821229). L&Q 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 L&Q Group.

Please speak to an Independent Financial Adviser for further information on how the Own New Rate Reducer will apply to your personal circumstances. Your property may be repossessed if you do not keep up repayments on your mortgage or other debt secured on it.

Full Own New: Rate Reducer Terms and Conditions

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