Persimmon Homes

Own New Deposit Drop

Whether you’re buying a house or an apartment, Own New Deposit Drop can provide access to mortgages of up to 95% with competitive rates.

Own New Deposit Drop plugs the gap left by the withdrawal of Help to Buy, bringing 95% mortgages to new-build houses and apartments in the UK.

                           

 

How it works

Own New works with house-building companies, mortgage lenders and investment banks to reduce the risk for the lender, enabling better mortgages for new builds to a broader range of people.

As a buyer, you apply for a normal mortgage through the lender's usual process. When you apply you'll be assessed for the scheme based on your ability to make the repayments which means that, even if you are self-employed, have previously been furloughed or don't yet have a credit rating, you can still be accepted for a standard mortgage. 

This works because Own New reduces the lender’s risk behind the scenes, thereby facilitating these mortgages. The housebuilder pays a fee on completion of the sale, and there's no cost to you as the homebuyer for using the scheme. 

 

 

FAQs

Who can use it?

The scheme is open to first-time buyers and people who have previously bought a home, including those purchasing higher-value properties. You don’t need a large deposit or the ‘bank of mum and dad’ to fund your purchase, and you will own 100% of your new home.

Which homes can it be used on?

This offer is available on selected developments and plots only, subject to status and availability.

Can it be used in conjunction with other schemes?

This offer can be used in conjunction with other Persimmon Homes offers.

What do I do next?

If you're interested in using the Own New Deposit Drop scheme on a new Persimmon home, search for your new home here and contact us today.

 

 

Terms and conditions

  • This offer is available on selected developments and plots only, subject to status and availability.
  • This offer is available to first time buyers and existing homeowners. 
  • This offer is not available on Buy to Let property purchases.
  • This offer is only available through selected lenders.
  • Purchasers are required to contribute a minimum 5% deposit.
  • Persimmon Homes’ contribution is paid to the lender on completion of the sale.
  • Purchasers must meet the lender’s mortgage eligibility criteria.
  • Mortgage lenders' terms and conditions may apply.
  • Legal completion must take place on or before the date agreed at the time of reservation.
  • Persimmon Homes reserve the right to withdraw or alter the terms of this offer at any time prior to payment of a reservation fee.

 

 

Disclaimer

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Terms and Conditions apply. A minimum of 5% deposit is required. The Own New scheme is available with the purchase of a new home through participating developers only, subject to terms and conditions.

 

Finishing Touches

Create a look that's as individual as you are. Add the finishing touches to your Persimmon home.

Supporting your communities

At Persimmon we're proud to support our local communities. Our Community Champions programme was established in 2015 and has already donated more than £3 million to over 3,500 good causes across Great Britain. We also have a programme of community events taking place as part of our partnership with Team GB for the 2024 Paris Olympics, along with other great initiatives. 

 

Our hugely successful Community Champions programme has already donated more than £1 million to good causes in England, Wales and Scotland. Whilst the programme is running, each of our regional offices makes a donation of up to £6,000 every quarter to local organisations.

We're proud to be one of Team GB's official partners for Paris 2024. In the lead up to the Olympics we'll be posting lots of exciting content in partnership with Team GB, from athlete appearances to competitions and challenges.

Showcase your style

Why not share your own photos on Instagram using #lovemypersimmonhome for a chance to win a £100 Next voucher. Visit our Facebook page for terms and conditions.

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