Buy a new home with a 5% deposit

Own New enables access to low deposit mortgages with competitive rates.

You don’t need a large deposit or the ‘bank of mum and dad’, and you will own 100% of your new home.

The scheme is open to first-time buyers and people who have previously bought a home, including those purchasing higher-value properties and those purchasing a house or an apartment.

When you apply for your Own New mortgage from a participating lender, you will be assessed based on your ability to make the repayments.

Buy a new home with a 5% deposit

Partnership Announcement

Own New has partnered with Darlington Building Society. 5% deposit mortgages on new builds coming soon

5% deposit mortgages for new homes now available on selected properties

Tap the pins on the map to browse available sites.

Your home may be repossessed if you do not keep up with your mortgage payments

We will be launching nationwide soon!

Register your interest below to hear when Own New is available in your area

How it works

How it works

With Own New, you arrange your mortgage directly with the lender in the usual way. Once accepted, you go on to own 100% of your new home.

Own New works behind the scenes. For you, this is a standard mortgage directly from the lender, with competitive rates.

Own New reduces a lender’s risk, enabling them to offer competitive low deposit mortgages on newly built properties.

There is no cost to the homebuyer for using Own New. Your home builder pays a small fee on completion of the sale.

Buy sooner

Own New can help you to buy your ideal home much sooner because you can purchase with a low-deposit mortgage, rather than spending years saving for a deposit.

The scheme will make owning a new home a possibility for many more people, including those who may otherwise be penalised through no fault of their own. If you are self-employed or are still building your credit rating, you can still be accepted for a standard mortgage.

You may already own a home but have limited equity, which can restrict your options for moving. Buy with Own New and you can take that next step up the property ladder sooner.

A simple solution

Own New is increasing the availability of affordable mortgages for new homes for buyers with a small deposit.

It is easy to use for everyone involved:

  • Homebuyers apply for a normal mortgage through the participating lender in the usual way and own 100% of their home
  • Home builders can join the scheme easily, at no cost, by contacting us
  • Lenders can service more customers at reduced risk through the Own New platform.
Own New has partnered with builders across the country, from national PLCs to smaller regional firms. If your preferred builder has signed up to the scheme, they can refer you to a broker and you can apply for a mortgage in the normal way.

Register your interest

Are you looking to buy a new build property? Register below to hear when 5% deposits are available in your area.

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Own New is a trading name of Market Mortgage Ltd.

Buy with a small deposit, now

You can buy your own home based on your earnings – you don’t need a ‘bank of mum and dad’ or a deposit that takes years to save and you own 100% of the home.

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Adrian MacDiarmid
Head of Mortgage Lender Relations, Barratt Developments PLC

“We're delighted to make the Own New scheme available to our buyers. It's a simple and cost-effective way for developers to make buying a new house or apartment more accessible to a broader range of customers who have a limited deposit.

It brings home ownership within the reach of more aspiring buyers and, with Help to Buy coming to end soon, has come at exactly the right time for the house building industry."
Craig Hall
Director of New Homes Financial Services, LSL

“With consumers facing increased challenges with inflation, the rising cost-of-living and the end of the governments Help to Buy scheme, it is imperative that private providers and lenders collaborate to create solutions for low deposit (high loan-to-value) mortgage products, enabling customers to make their first and subsequent steps on the housing ladder.

The Own New scheme provides a simple solution for all parties; customers, developers, mortgage lenders and further highlights the value of seeking independent advice from a specialist New Homes mortgage broker.”
Bill Gray
Chairman and Board Director, Market Mortgage

“Working in close partnership with our network of builders, brokers and lenders, it is a pleasure to announce the launch of Own New, our new build scheme.

Through this scheme, more first-time buyers and existing homeowners will be given the opportunity to buy their dream home, with a low deposit.

Now, more than ever, a scheme like this is critical to ensuring that homeownership continues to be an achievable goal for many.”

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