For many people, just getting a foot on the property ladder can seem like a step too far. Now, thanks to our Deposit Unlock scheme, people have the extra help they need to buy a home.
Deposit Unlock is a scheme developed by mortgage lenders and homebuilders that enables people to buy a new home with a 5% deposit. Buyers can then access low deposit mortgages at competitive interest rates for the remaining 95%.
Usually, lenders take out insurance on riskier mortgages, like those for first-time buyers with a small deposit. However, the Home Builders Federation and its members have created a housebuilder-owned insurance scheme that allows them to offer lenders 35% protection on mortgages. With builders now covering so much of that insurance cost, lenders can offer certain borrowers larger mortgages.
Apart from being able to buy your home with just a 5% deposit, here are the other big benefits:
Deposit Unlock is only available for new build homes.
First time buyers and home movers can borrow 90.01-95% Loan to Value (LTV) up to a maximum loan of £750,000.
You're using an unsupported browser (Internet Explorer). Please update your browser for more security, speed and the best experience on this site.