Hurst and Hurst Estates partners with Own New to help new home buyers in Dorset access lower-rate mortgages

Hurst and Hurst Estates is pleased to announce that it is now offering the Own New scheme across its new home developments in Dorset. The scheme, which has been launched nationwide, is designed to make mortgages more affordable for people buying new build homes. The Own New Rate Reducer* is a unique mortgage that provides movers and first-time buyers with access to lower interest rates and reduced monthly payments, during the initial mortgage period.

Hector Hurst, Managing Director at Hurst and Hurst Estates, said: “We’ve seen many potential buyers put their moving plans on hold because they cannot afford the higher monthly mortgage payments, resulting from the rise in interest rates of last year. We are delighted to be working with Own New and to be able to offer Rate Reducer to our customers at both Reef Manor in Bournemouth and Shillingstone Fields in Okeford Fitzpaine. This scheme will give our purchasers the opportunity to access to highly competitive mortgage deals, which make purchasing one of our new build homes even more accessible.”

Eliot Darcy, founder of Own New, said: “Higher interest rates combined with high inflation and the resulting squeeze on household budgets have made it more difficult for people to purchase their next home. With the support of our house builder partners like Hurst and Hurst Estates, the Rate Reducer scheme is making it possible for buyers to purchase the home of their dreams, while keeping monthly mortgage repayments to a level they can afford.”

An Own New Rate Reducer* mortgage allows buyers to purchase a new build home with a lower interest rate mortgage. It is essentially a regular mortgage, just with lower monthly payments for the initial period.

Own New works behind the scenes with house builders and lenders, to reduce the overall cost involved with mortgage loans on new build properties. The reduction is funded by house builders’ contributions towards the cost of the mortgage and enables the lender to offer borrowers more competitive interest rates during the initial period of their mortgage.

Own New is now available at:

Shillingstone Fields – a collection of three and four-bedroom semi-detached and detached homes, set in the village of Okeford Fitzpaine. All of the homes have been highly specified throughout, to include high-end kitchens with integrated appliances and underfloor heating to the ground floor. Sleek and stylish bathrooms and en suites boast Porcelanosa tiling and all of the homes benefit from a 10-year new homes warranty.

Reef Manor – an exquisite collection of one, two and three-bedroom designer apartments in the suburb of Boscombe in Bournemouth. The homes enjoy a beach-side location, with some balconies offering sea views. Each of the homes have been highly specified and benefit from underfloor heating and modern and tiled ensuites, while the stylish kitchens boast stone work tops and integrated appliances. All of the homes benefit from a 10-year new homes warranty.

To find out more about Hurst and Hurst Estates, visit:

*The Own New Rate Reducer: Terms and conditions apply. Eligibility is at the developer’s discretion, is subject to receiving regulated advice from an independent mortgage broker and is ultimately subject to lender terms and conditions.