What is
Deposit Unlock?



Deposit Unlock is an innovative program developed by the Home Builders Federation (HBF) in collaboration with the housebuilding industry and mortgage lenders. This scheme enables purchasers to buy a new-build home with as low as 5% deposit.

The program is open to first-time buyers and home movers who wish to purchase a new-build home from a registered HBF member, with a deposit between 5% and 9.99%.

If you are currently paying towards your rent and would prefer to use that money towards buying a new home, then you should consider the potential benefits of Deposit Unlock. It lessens the deposit amount needed for purchasing a home and provides access to more competitive mortgage deals.

What are the benefits of deposit unlock?

  • Makes buying a new build more affordable by requiring a smaller upfront investment.
  • Offers competitively priced mortgage products alongside the lower deposit.

Who can use the Deposit Unlock scheme?

This scheme is primarily for first-time buyers and existing homeowners looking to move, but specific eligibility criteria might exist with participating lenders.

Is Deposit Unlock available everywhere in the UK?

No, it’s currently offered through specific developers across England, Scotland, and Wales.

Do all new build properties qualify?

Only properties from participating developers offering the scheme are eligible. You can find the list of participating builders here.

How much deposit do I actually need?

Deposit Unlock allows you to purchase with just a 5% deposit, meaning you secure a 95% loan-to-value mortgage.

Are the mortgage rates higher with Deposit Unlock?

There might be slightly higher interest rates compared to standard mortgages due to the larger loan amount.

What are the additional costs involved?

Expect the usual home buying costs like legal fees, surveys, and potential stamp duty.

How does the scheme work?

The developer contributes a portion of the purchase price to an insurance policy, mitigating the risk for the lender.

Are there any limitations on the property value?

Yes, the maximum loan amount available through the scheme is currently capped at £750,000.

Should I use a mortgage broker for Deposit Unlock?

Using a broker experienced with the scheme can be beneficial to navigate the process and find suitable lenders.



(Things you will need to know in preparation for your assessment – your annual salary | your current monthly outgoings | the amount of deposit you have available)


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