With the Deposit Unlock scheme, you could reserve your new home with just a 5% deposit.
The scheme gives both first time buyers and existing homeowners the chance to reserve a new build home with a 5% deposit.
The purchaser will then secure a mortgage for the remaining 95%. Unlike the Help to Buy scheme, there are no regional price cap restrictions.
Designed to help house hunters reserve their dream home, Deposit Unlock can be used to reserve a new build home up to the price of £833,250.
If you choose to reserve your new home with Deposit Unlock, you don’t have to worry about extra paperwork or a confusing process. The journey is seamless and is much the same as a buying journey without the scheme.
Deposit Unlock is currently available with participating bank lenders including Nationwide Building Society, Accord Mortgages and Newcastle Building Society.
For more information regarding the Deposit Unlock scheme, please click here.
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