Deposit Unlock

mother and daughter in cosy bedroom

What is Deposit Unlock?

Deposit Unlock is a partnership between lenders and the housebuilding industry, designed to make buying a new home more accessible. This mortgage guarantee scheme lets you buy a new build home with just a 5% deposit. Available to both first time buyers and existing homeowners, you can use Deposit Unlock to secure one of our selected homes with a value of up to £750,000*, helping you move one step closer to your dream home.

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What are the benefits of Deposit Unlock?

  • Buy a new build home with just a 5% deposit.
  • Access low deposit mortgages with competitive interest rates.
  • Available to both first time buyers and existing homeowners.
  • Available on properties valued up to £750,000.
  • Makes homeownership more accessible, even with a smaller deposit.
Family relaxing with dog in living room

How does Deposit Unlock work?

With Deposit Unlock, participating lenders can offer mortgages with 90-95% LTV on new build homes. The scheme is backed by mortgage indemnity insurance, which we help fund. This insurance helps protect lenders if a home is repossessed, which means buyers can access more competitive mortgage rates. For more details, you can visit the Deposit Unlock website.

How is affordability calculated?

Each mortgage lender taking part in the scheme (currently Nationwide, Newcastle Building Society and Accord Mortgages) will assess affordability based on their usual lending criteria, so it’s just like applying for any other mortgage. To find out more, here’s our guide to applying for a mortgage.

Which homes can be it used on?

The Deposit Unlock scheme is available on a selection of our new build homes with a maximum mortgage value of £750,000.

What is a Deposit Unlock mortgage?

A Deposit Unlock mortgage is a just mortgage that allows you to buy a new home with a 5% deposit instead of the usual 10-20%. 

Who can apply for Deposit Unlock?

Deposit Unlock is available to first time buyers and existing homeowners in England, Wales and Scotland. The scheme isn’t available to buy-to-let borrowers.

Is Deposit Unlock only for first time buyers?

No, Deposit Unlock isn't just for first time buyers. It's also available to existing homeowners who are looking to move, as long as they meet the criteria. The scheme helps both first time buyers and home movers with a smaller deposit, making it easier to buy a new home.

Can it be used in conjunction with other schemes?

Deposit Unlock can’t be used alongside other offers or incentives. However, we offer a variety of other buying schemes, so take a look and see if there’s one that’s perfect for you.

Row of houses on Charles Church new build development

How to apply for Deposit Unlock

Applying for the 5% Deposit Unlock scheme is simple.

  • Explore our range of beautiful new homes
  • Get in touch with one of our sales executives
  • They’ll connect you with a New Homes Mortgage Adviser, who’ll help arrange your mortgage with the Deposit Unlock scheme.

Before you know it, you’ll be all set to move into your brand new home with just a 5% deposit.

*limits vary from lender to lender.

We don’t provide mortgage advice, so we recommend speaking with a mortgage adviser or lender for guidance.

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