Introducing Own New

What does Own New mean for me?

Own New is a scheme designed to help you buy a new-build home with a lower interest rate mortgage for a fixed period, resulting in significantly lower monthly payments.

Whether you’re a first-time buyer or an existing homeowner looking to move, Own New makes homeownership more accessible.

L&Q will connect you with an accredited, independent broker who specialises in Own New mortgages, ensuring you receive personalised advice tailored to your unique circumstances.

Use the Own New Rate Reducer calculator below

Please note when submitting information in this form you are sharing your information with Own New Rate Reducer. Their full privacy policy can be found here.

How does Own New work?

1. Find Your Dream Home: Discover your perfect L&Q new-build property.

2. Arrange Your Mortgage: Speak with an approved Own New mortgage broker who will walk you through the process step by step.

3. Tailored Solutions: Your expert broker will evaluate your situation and help you choose the best product for your needs—whether that’s Own New Rate Reducer or Own New Flex.

4. Own 100% of Your Home: Enjoy lower mortgage interest rates for a fixed 2- or 5-year period. We route our financial contribution (up to 5% of the purchase price) directly to your lender to subsidise your interest rate, with absolutely zero hidden fees.

(Please note that Own New mortgages are not available on Shared Ownership homes).

Rate Reducer vs. Flex Explained

Tackle the cost of living with a reduced-rate mortgage that fits your needs.

Own New Rate Reducer: Uses a 5% builder contribution to give you the lowest possible interest rate, maximising your monthly savings.
Own New Flex: Uses a 3% builder contribution to lower your rate, giving you the flexibility to use other available L&Q incentives (like a deposit top-up or help with stamp duty) at the same time.

Whichever you choose, it’s simply a regular mortgage, just with lower monthly payments for the initial fixed period. Because your interest rate is lower, you even pay down more of your capital in those early years! Own New makes your beautiful new home a reduced-rate reality.

Explore L&Q developments offering Own New: Rate Reducer

Available now

Beauchamp Park

For Sale homes now 100% under offer - 4 bedroom Shared Ownership ex show home coming soon

Pricing coming soon

Warwick Station

Find out more

24 homes available now

Prime Point

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

Shared Ownership

Starting from

£86,000 for a 25% share

For Sale

Full market price from

£380,000

North Greenwich Underground

Find out more

Available now

Durton Grange

New homes for sale in Preston, Lancashire

Shared Ownership

Prices coming soon

For Sale

M6 Motorway

Find out more

13 homes available now

The Quarry

Available to reserve now -2, 3 & 4 bedroom homes. Exclusive offers available with selected homes ready to move into now!*

For Sale

Full market price from

£330,000

Erith Station

Find out more

15 homes available now

Rockcliffe Square

Manhattan Studios, 1, 2 & 3 bedroom apartments in Plumstead

Shared Ownership

Starting from

£85,625 for a 25% share

For Sale

Full market price from

£290,000

Woolwich l Woolwich Arsenal I Plumstead

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. Please note that Own New will only be available on selected plots at selected developments.

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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