Deposit Unlock: Costs and affordability

How much deposit do I need with the Deposit Unlock scheme?

Deposit Unlock is designed to make homeownership more attainable by allowing buyers to purchase a new-build home with just a 5% deposit.

For example, if you’re purchasing a property worth £300,000, you would only need to provide a £15,000 deposit, compared to the £30,000 or more often required by conventional mortgage products.

The scheme eliminates the need for the larger upfront deposits typically required for new-build properties, offering an accessible option for both first time buyers and existing homeowners (provided you have sold your current home at the point of completion). Find out more about the Deposit Unlock eligibility criteria here.

How do Deposit Unlock mortgage rates work?

The scheme is backed by a unique insurance model, allowing participating lenders to offer competitive mortgage rates comparable to those available for buyers with larger deposits. This ensures that your monthly payments remain affordable while still allowing you to purchase a new-build home with a smaller deposit required upfront.

Buyers can put down a 5% deposit on a property up to the value of £833,250 (although this may vary between lenders), with the house builder paying to insure the mortgage; the aim is 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.

You must meet the lender’s affordability criteria to ensure you can manage the associated mortgage repayments.

Where should I start my Deposit Unlock search?

Ready to explore the Deposit Unlock scheme and find your dream new-build home? Head to our property search tool to browse available properties from participating developers. With Deposit Unlock, homeownership could be closer than ever.

For more information about the scheme and its benefits, visit our guides for an in-depth breakdown of how it works and an overview of the eligibility and prioritisation criteria. Find your pathway to homeownership today.