Your mortgage options
A mortgage is often one of the biggest financial commitments you’ll ever make, so it’s important to take time to explore your options and find the one that’s right for you.

Finding the right mortgage for you
Mortgages can seem overwhelming with so many different options and confusing terms, but the good news is there are a few key types that can help guide your decision. Before diving into the details, it’s helpful to understand the main types of mortgages available and how they work.
Standard variable rate
With this type of mortgage, your payments may go up or down as the lender adjusts the interest rate in line with general market rates.
Fixed rate
If you'd like the stability of knowing exactly how much you'll pay each month, a fixed-rate mortgage could be a great choice. The interest rate stays the same for a set period, so your payments remain consistent.
Capped rate
This option guarantees that your payments won’t exceed a pre-agreed amount, while also giving you the benefit of lower payments if the interest rate drops.
Tracker
A tracker mortgage follows the movements of the Bank of England base rate, meaning if the base rate falls, your monthly payments could also go down.
Cashback
If you like the idea of receiving some extra cash when you move in, a cashback mortgage might be the right choice. You could receive a lump sum, or a percentage of your loan, to help with your moving expenses.
Flexible/Australian
With this flexible loan, you can adjust your repayments based on your financial situation. Pay more when you can or take a break if you need to.
Offset/Current Account
This type combines your mortgage, current account, and savings into one, allowing any spare cash in your current or savings accounts to reduce your mortgage balance.

Own New Rate Reducer
We’ve teamed up with Own New Rate Reducer, which helps you buy a new build home with a lower interest rate mortgage. You’ll still have a standard mortgage and own 100% of your new home, but with lower monthly payments.

Deposit Boost
With Deposit Boost, we could help you borrow less and secure a more competitive mortgage rate on your new home. If you've saved a 10% deposit for one of our homes, we could boost it with an additional 5%, giving you a total deposit of 15%.
What’s the difference between fixed rate and variable rate mortgages?
A fixed-rate mortgage has a set interest rate for a specific period, meaning your payments stay the same throughout that time, offering stability. A variable-rate mortgage has an interest rate that can change over time, so your payments may go up or down depending on market conditions, offering more flexibility but less predictability.
Can you reserve a new build without a mortgage?
Yes, you can reserve a new build with us without having a mortgage already in place, but we do recommend that you at least have a mortgage in principle to demonstrate your ability to finance the purchase.
How do new build mortgages work?
New build mortgages work similarly to regular mortgages, but they’re specifically for homes that are newly built or still under construction. While some lenders may ask for a larger deposit and a valuation, other lenders also offer special deals for new builds such as longer mortgage offers or lower interest rates.
When do I start paying the mortgage on a new build?
With a new build, you typically start paying your mortgage once the property is complete and you’ve officially moved in. However, if you're buying off-plan, you may be required to make payments during the construction process, like a deposit or interim payments.
Are mortgage rates higher for new builds?
Mortgage rates for new builds aren’t always higher, but they can be in some cases. Lenders may charge slightly higher rates if the property is seen as harder to value, especially if it’s part of a new development. However, many lenders offer lower rates for new builds, so it’s worth shopping around to find the best deal.
How much deposit do I need for a new build?
For a new build, you'll typically need a deposit of at least 5% to 10% of the property's value, similar to buying an existing property.
Can I get a 90% mortgage on a new build?
Yes, it’s possible to get a 90% mortgage (meaning you’d need a 10% deposit) on a new build, depending on the lender and your financial situation.
Ready to take the next step?
Now that you’ve got a clearer picture of mortgages, you’re one step closer to finding the perfect place to call home. Explore our developments near you.
Find your new home