HOUSEBUILDER Bellway has partnered with Own New to make mortgages more affordable to people purchasing new homes in Dorset. 

Own New’s Rate Reducer could see buyers of new-build Bellway homes in Blandford and West Parley benefit from interest rates below one per cent. 

The product launched recently and is available on selected new Bellway homes across Dorset. It is also available at developments built by Ashberry Homes, which is part of the Bellway group. 

Graeme Cole, sales director for Bellway Wessex, said: “It’s an exciting time for anyone looking to purchase a Bellway home.  

“Here at Bellway, one of our key priorities is putting customers at the heart of what we do. We have a range of incentives available to our customers.  

“Our partnership with Own New on the Rate Reducer product will have a positive effect on affordability for our customers, giving them access to as many ways to purchase as possible, making it easier for more people up and down the country to move. 

“Regardless of deposit size, the positive benefits will be felt by homeowners each month as their monthly outgoings are lessened. 

“Rate Reducer could be suitable for any type of buyer, whether looking for their first home or to move into a larger property.  

“We would encourage anyone thinking about purchasing a new home in Dorset to get in touch with us to find out more about the scheme and put you in touch with an independent mortgage broker to talk you through the possibilities.” 

Under the scheme, Bellway will pay a three or five per cent subsidy direct to the lender, minus an arrangement fee to Own New, which will be offset against the mortgage interest rate to reduce payments for the first two or five years.

Eliot Darcy, founder of Own New, added: “This is just the product to stimulate the housing market and to give more people a helping hand and initial boost to get onto the property ladder or to secure that new home that will give them the extra space they need.” 

Own New Rate Reducer is available on selected plots in Dorset at Kingsmere Park, St. Mary’s Hill and Corallian Heights.