Berkeley Group has partnered with Own New to join the Rate Reducer scheme.
The initiative, which offers new-build buyers access to lower interest rate mortgages for a fixed period, will now be offered across all Berkeley developments.
Designed for those purchasing new-build homes, the Own New Rate Reducer scheme offers reduced monthly mortgage payments over a fixed term.
For instance, at Berkeley’s Kidbrooke Village, buyers could secure rates from 1.83%, compared to prevailing rates at well over 4.6%.
Houses require a minimum of 10% deposit, while flats mandate a minimum of 20%.
Paul Vallone of the Berkeley Group said: “We are delighted to be joining the Own New Rate Reducer scheme to assist more people in finding a Berkeley home in London and beyond.
“Whether buying a first or next home, apartment or house, this product provides a fantastic opportunity for more people to get a foot on the property ladder and provide them with mortgage rates that have not been seen in the market for well over two years.
“We are thrilled to be a part of the launch of this new initiative, making it possible for a wider range of buyers to own a new-build home.’
Eliot Darcy of Own New added: “Own New is aimed at creating a fairer system of lending to make home ownership attainable to more people.
“It is based on the belief that you should be able to buy your first or next home without the need to spend years saving for a large deposit.”
