Deposit Unlock Scheme


Following its launch in June 2021, the Deposit Unlock scheme is now starting to grow in its availability.

Provided as an alternative to the Government’s Mortgage Guarantee Scheme, the Deposit Unlock proposal is a mortgage indemnity scheme from a collaboration between the Home Builders Federation and its members. It is designed to assist those with a minimum 5% deposit who wish to purchase a new build home. A mortgage is then obtained for between 90.01-95% of the purchase price. The scheme is managed by reinsurers Gallagher Re, who were involved with the initial consultation.

Certain restrictions and criteria apply, here are a few of the most important:

  •  Up to a maximum purchase price of £330,000
  •  For owner occupation only ie not for buy-to-lets
  •  Available to First Time Buyers and Home Movers
  •  Part exchange can be available subject to individual conditions
  •  Available for houses and minimum 2 bedroom apartments
  • New build properties only

With numerous schemes currently available for would be home buyers it can appear quite confusing as to which may be best or even applicable to you. Therefore, should you wish to find out more including if the Deposit Unlock scheme is right for you, please contact us today and one of our advisers will be happy to discuss your options.