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Own New

A smarter way to make your move.

Buying your new Duchy home could be more affordable than you think.

 

We’ve partnered with Own New to give you another way to make the most of your Duchy incentive. Rather than simply taking a discount from the price of your home, your incentive can be used through Own New to help reduce the cost of your mortgage.

 

That could mean a lower mortgage rate and more manageable monthly payments during your initial fixed term, helping make your move work better for you.


  • Lower monthly mortgage payments.
  • Make more of your Duchy incentive.
  • Available to First Time Buyers and home movers.
  • Own 100% of your new home.
Image is for illustrative purposes only.

Two ways to Own New

Own New Rate Reducer

Uses a 5% Duchy incentive towards reducing your mortgage interest rate as much as possible, helping maximise the saving on your monthly mortgage payments during the initial fixed term.

 

Own New Flex

Uses a 3% Duchy incentive towards reducing your mortgage rate, while leaving the flexibility to combine it with other incentives, such as deposit contribution or Stamp Duty support, where available.

 

Our Sales team can confirm which Own New options and incentives are available on the home you're interested in.

From finding your home to getting the keys.

 We’ve made the process straightforward. 

 

Find your Duchy home.
Choose the home that’s right for you and speak to our Sales team about the Own New options available. 

Get your approval letter.
We’ll provide the Letter of Approval you need to take the next step. 

Speak to an approved Own New broker.
Your broker will discuss affordability with you, explain your mortgage options, and manage the application process. 

Complete and move in.
Once everything is in place, complete your purchase and start enjoying your new Duchy home.
  • Who can use Own New?
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       Own New is available to both first-time buyers and existing homeowners looking to move. Availability varies by development and individual plot, so speak to our Sales team to find out what is available on the home you’re interested in. 

  • What is Own New Rate Reducer?
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       Rate Reducer uses a 5% builder incentive towards reducing your mortgage interest rate as much as possible. This can significantly reduce your monthly mortgage payments during the initial mortgage period. 
  • What is Own New Flex?
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      Own New Flex uses a 3% builder incentive towards reducing your mortgage rate, while allowing room for other Duchy incentives where available. This could include support towards your deposit or Stamp Duty, depending on the home and offer available. 
  • Do I receive the full benefit of the Duchy incentive?
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       Yes. Own New is designed so that the full builder incentive works for you. Depending on the Own New product and lender structure, that benefit may be provided through a reduced mortgage rate, deposit support, cashback, or a combination of these. 
  • Who will my mortgage be with?
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      Your mortgage is directly with your chosen lender, not Own New. An approved broker will provide advice where required and help arrange your mortgage, while Own New works between Duchy Homes, the broker, and the lender to structure the incentive. 
  • Do I own 100% of my new home?
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      Yes. Own New is not shared ownership. You purchase and own 100% of your new Duchy home from day one, subject to the usual mortgage and conveyancing process. 
  • Is Own New available on every Duchy home?
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      Not necessarily. Own New availability can vary between developments and individual plots. Our Sales team will confirm the options available when you enquire about a particular home. 
  • How do I get started?
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      Simply find the Duchy home you’re interested in and speak to our Sales team. We’ll confirm which Own New incentives are available, provide your Letter of Approval, and introduce you to the next stage with an approved Own New broker. 
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