Deposit Unlock

Enabling you to buy a new build home with just a 5% deposit

Available with:

See all participating builders

PARTICIPATING LENDERS

What is Deposit Unlock?

Do you need help buying your new home?

If saving for a deposit is preventing you from taking the step to buying your first home, or moving to your next home, Deposit Unlock is a scheme that enables you to buy a new build home with just a 5% deposit.

It is available on a wide range of UK new build properties up to £833,250* and is the low deposit mortgage solution designed to give more people the opportunity to buy their own home.

benefits

Benefits of Deposit Unlock

  • You only need a 5% deposit and a normal 95% mortgage.
  • Available to both first-time buyers and home movers.
  • You benefit from an insurance-backed guarantee, allowing you to access competitive mortgages rates.
  • Available on new-build properties up to the price of £833,250* with no regional price cap restrictions.
  • You own 100% of the property.
  • Available with UK’s leading house builders.
  • The scheme is available now.

Typical example

 

Cost of your new home

£300,000

5% deposit

£15,000

95% mortgage

£285,000

 

Figures shown are provided for illustration purposes only. Please consult an independent financial advisor. For full terms and conditions, please ask a sales advisor at your selected development.

How it works

How does Deposit Unlock work?

Deposit Unlock is a new mortgage scheme which has been devised by the housebuilding industry in collaboration with mortgage lenders to make buying your new home, or your next home, more affordable.

Not just for First Time Buyers, home movers looking to take their next step onto the property ladder also benefit from this scheme.

The Home Builders Federation (HBF) and its members have joined together to create a nationwide house builder-owned insurance scheme, managed by Gallagher Re. This scheme offers participating mortgage lenders protection on their mortgages, so that they can lend to you at 95% on new build housing.

Customers only need to put down a 5% deposit and can purchase a property up to £833,250* with no restrictions on location, subject to lender’s approval.

Deposit Unlock is currently available with participating bank lenders including Nationwide Building Society, Accord Mortgages and Newcastle Building Society.**

How to buy with

Deposit Unlock

 

Deposit Unlock is a straightforward process that makes home ownership more affordable.

1.

Find a participating developer.

2.

Find a Home you would like to buy.

3.

Talk to the developer.

They will then be able to confirm to you and your mortgage broker that the chosen property is available with the Deposit Unlock scheme.

Testimonials

"After renting together for eight years, we wanted to purchase our first home and kept an eye out for applicable schemes. We saw Barratt Homes’ Deposit Unlock scheme which allowed us to purchase with a 5% deposit."

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"We couldn’t believe our luck when we found out the home we wanted was available with the Deposit Unlock scheme as it meant we only needed to put down five per cent. Had we have needed to raise ten per cent which we thought was the ‘norm’, this would’ve put our property search on hold for at least another couple of years."

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Did you know you could save up to £2,600 per year in annual energy costs?

New build properties are proven to use far less energy than older homes, saving you money on your annual energy bills.
Find out more

Available with:

See all participating builders

Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage, and house prices can go down and up.

*Subject to lenders’ participation on selected homes and developments. Rates and maximum purchase price vary via lender, based on Nationwide Building Society’s current guidelines from November 2021

**Correct as of 8 November 2022.