Deposit Unlock

What is the Deposit Unlock scheme?

Deposit Unlock: Overview

Developed by the Home Builders Federation (the body which represents housing developers) along with reinsurance firm Gallagher Re, Deposit Unlock allows eligible buyers to purchase a new build home with a 5% deposit.

In order to protect themselves from the devaluation of brand new properties, mortgage lenders are often stricter on the amount they are willing to lend on new build homes, often setting minimum required deposits of 15-25%. However, with the new Deposit Unlock scheme, buyers are able to put down a 5% deposit with the house builder paying to insure the mortgage instead, with an aim to make lenders more comfortable about offering high Loan-to-Value (LTV) mortgages on new homes.

The maximum loan you can currently take out to buy a property through this scheme is £750,000, although this can vary from lender to lender and will depend on your financial circumstances.

Deposit Unlock: Participating Builders & Lenders

As part of Deposit Unlock’s eligibility criteria, you can only buy from participating home builders and mortgage lenders. As of November 2022, participating deposit unlock mortgage lenders are Nationwide Building Society, Newcastle Building Society and Accord Mortgages.

Correct as of June 2023, the various participating home builders are outlined below:

Anderson Design & Build	Campion Homes Limited	Hill	Wheeldon Brothers
Anderson O&U	City & Country Homes	Ilke Homes	Pentland Homes Limited
Ashberry Homes	Countryside Properties	Keepmoat Homes	Persimmon
Ashwood Homes	Crest Nicholson	Kitewood Estates Limited	Prospect Homes
Baker Estates Limited	Croudace Homes	Linden Homes	Redrow
Barratt Homes	Davidson Group	Mandale Homes	St Modwen Homes
Barratt London	David Wilson Homes	MCI	Stonebond Group
Beal Developments Limited	Devine Homes	Miller Homes	Stonebridge Homes
Bellway Homes	Edenstone	MJ Gleeson PLC	Taylor Wimpey
Bellway London	Holdings	Morris Homes	Thakeham
Bewley	Edwards Homes	Morrish Homes	Thomas Homes
Bloor Homes	Fairview	Nicholas King Homes	Vistry Group
Bovis Homes	Fortitudo Limited	Norfolk Homes	Weston Homes PLC
Braidwater Limited	Gleeson Build & Develop Limited	Pat Munro Homes	Wheeldon Brothers
CALA Homes Limited	Hayfield Homes	Pearce Fine Homes

Deposit Unlock: Eligibility

To be eligible for Deposit Unlock, you must meet certain criteria:

• You must be buying a new build property.
• The loan you require must not exceed £750,000.
• You can only buy a home from participating house builders and lenders (see above).
• You must not already own another home at the time of completion.

To find out more about other home-buying and rental options, visit our article index, or check out our helpful FAQs and guides. Alternatively, you can start your search for a new home on Share to Buy’s property portal today!