How Rate Reducer Made a Dream Home Possible for Hollie and Ross

For Hollie and Ross, homeownership always felt out of reach. After twenty years of renting, they are tired of living in a house they can’t truly call their own—no freedom to decorate as they please, no chance to put a personal stamp on it, and the constant frustration of pouring money into something that will never be theirs. With their 9-year-old daughter, Lexi, growing up fast, they know it’s time to find a place to settle down—a home that is truly theirs.

Over the years, they have diligently saved a deposit of £45,000. As self-employed professionals—Ross working as a comedian and Hollie in marketing—they are well aware of the challenges that come with securing a mortgage. Despite a spotless rental record and consistently paying £1,150 per month for their current two-up, two-down property, they worry that getting the right mortgage might be a challenge.

They dream of more space for their family, especially a larger kitchen where Ross can cook and choose his own kitchen surfaces. Recently, they’ve come across a beautiful three-bedroom new build with Persimmon Homes, priced at £304,995, and it seems exactly what they want with a bonus that Persimmon is offering a 5% incentive on the property. What’s more, they never realised that buying a new build home could allow them to choose their own finishing touches—like selecting the carpets and cupboard door colours—a game changer in making the space truly their own.

Initially, they assumed they would have to wait another two or three years before buying, thinking they needed to save even more. But then they spoke to Sarah Tucker from The Mortgage Mum and discovered Own New’s Rate Reducer mortgage, which completely changed their perception of what’s possible.

With Rate Reducer, they can use the 5% builder incentive to reduce the interest rate on their mortgage for the initial term, meaning they can secure a rate of just 2.36% on a two-year fixed deal. Without it, the best rate available would be 4.87%. The difference is staggering. Their projected mortgage payments come in at just £910 per month—£240 lower than what they are currently paying in rent. Had they opted to put the builder incentive towards a deposit contribution, their payments would be £1,215 per month—£305 more than with Rate Reducer. On top of that, they receive £770 in Own New cashback, making the financial move even more beneficial.

For Hollie and Ross, this isn’t just about saving money—it’s about making homeownership possible years earlier than they once thought. And with the added bonus of moving into a more energy-efficient new build, they also anticipate savings on their monthly bills.

Now, instead of waiting, they are busy picking out kitchen surfaces and imagining the memories they will create as a family in a home that is finally theirs. Thanks to Rate Reducer, Hollie, Ross, and Lexi are stepping into a future they once thought was a distant dream—one they can start living today.

If you are a home buyer and want to find out how much you could save with Own New Rate Reducer, speak to The Mortgage Mum today. https://themortgagemum.co.uk/new-build/

Consider getting independent financial advice before making any financial decisions on whether Rate Reducer is right for you. Your home may be repossessed if you do not keep up repayments on your mortgage.