Cameron Homes is partnering with the Own New scheme to make new-build homes more affordable

Cameron Homes, a Midlands-based homebuilder, has partnered with Own New, a scheme designed to support home buyers looking to purchase a new build property by offering lower-rate mortgages.

The scheme is funded through a subsidy paid for by the housebuilder called Rate Reducer, a unique mortgage that provides first-time buyers and existing owners with access to lower interest rates and reduced monthly payments during the initial mortgage period.

Brought to the market to fill the gap following the closing of the Government’s Help to Buy scheme, Own New enables Cameron Homes to offer its customers a regular mortgage loan with lower monthly payments. The scheme contributes towards efforts to make homeownership more affordable and accessible for those looking to get on the property ladder.

Cameron Homes, which has developments across the Midlands, will now deliver the Own New scheme across all of its locations. The reduction is funded by contributions from Cameron Homes towards the cost of the mortgage, enabling borrowers to receive more competitive interest rates during the initial period of their loan.

Collette Bradbury, Sales and Marketing Director at Cameron Homes, said: “The rise in interest rates has raised concerns for many first-time buyers and existing property owners, making some put their moving plans on hold. However, the introduction of the Own New scheme will help to restore confidence through providing customers with access to the highly competitive mortgage deals available.”

Eliot Darcy, founder of Own New, added: “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 Cameron Homes, 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.”

Cameron Homes, which is part of the Tara Group, has a long-established reputation as a leading housebuilder. Since 1994, its ethos has been to invest in land, add value over time, enhance surroundings and support local communities.

Tara Group is committed to high-quality standards and putting customers first. With family values placing significance on integrity and transparency, it has been recognised by the House Builders Federation (HBF) as a five-star housebuilder and accredited through the Great Place to Work award for the last two years.

Tara Group concentrates on infrastructure and groundworks, from acquiring land to building sought-after developments. It works in partnership with local authorities for affordable homes provisions, as well as delivering homes for the private rental sector (PRS). With a vision is to leave a legacy that communities, customers, clients, and employees are proud of.

It has delivered over 2,400 homes through Cameron Homes and sister company Keon Homes. Additionally, through Chasetown Civil Engineering, it has supported the development of over 40,000 homes.

With a strong balance sheet and a resilient business model, the group can reinvest profits and facilitate consistent growth for the business, people, opportunities, and projects.

From its origins in 1974, Tara Group’s values of family, unity, empowerment, and ethics have not wavered. Leading to positive long-term partnerships with landowners, other housebuilders, and suppliers.

For more information about Own New in the Midlands, please visit
www.cameronhomes.co.uk/own-new-scheme