Own New Rate Reducer terms and conditions

  1. Wain Homes will make a cash payment after completion of 3% or 5% of the purchase price of the property to Own New, which will be passed on the relevant participating lender so that they can offer a mortgage product at a rate that is subsidised from their usual product range.
  2. The percentage amount paid by Wain Homes is dependent on the mortgage product selected. The reduced rate will only be applicable for the initial mortgage term (2-5 years).
  3. This scheme is subject to status and participating lenders’ terms and conditions. Dependent on the lender’s requirements, it may not be possible for this scheme to be used in conjunction with other Wain Homes offers.
  4. Wain Homes is not regulated by the FCA and offers no mortgage advice so independent financial advice must be sought from a regulated and participating mortgage broker to access this scheme.
  5. Subject to participating lender criteria and eligibility. The lender will carry out their normal criteria and affordability assessments before any Own New Rate Reducer subsidy is applied.
  6. Mortgage offers will be made at the lenders discretion and in line with their criteria and therefore this offer does not constitute a guarantee of a mortgage offer.
  7. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
  8. Own New Rate Reducer is only available on selected developments and plots. A Sales Executive will advise customers of eligible plots.
  9. Own New Rate Reducer is available to first time buyers and existing homeowners.
  10. Own New Rate Reducer cannot be used in conjunction with any other offers or buying schemes such as Part Exchange, Movemaker, Homewise and Homereach.
  11. Own New Rate Reducer is one of many incentive schemes and purchasing options available to Wain Homes customers.

Buying Schemes

Own New - Rate Reducer

A new scheme available exclusively on new build homes to first time buyers and existing homeowners. It could unlock lower mortgage rates and reduce your monthly payments.

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Over 60s Home for Life

Aged 60 or over? You could save thousands on your new Wain home, with a Home for Life. Use our quick calculator and see how much your property budget could be increased by.

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Part Exchange: The house icon is white on the left, black on the right.

Part Exchange

You can move without selling first because we’ll be your cash buyer.

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We can help you sell your existing home with no estate agent fees to pay.

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Home Reach

You can get onto the property ladder by part buying, part renting your new home.

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