Deposit Unlock 
Launched in June 2021, the Deposit Unlock scheme is designed to help borrowers across the UK purchase a new build home with just a 5% deposit.  
The current Help to Buy scheme is due to end in October of this year. This scheme means the government owns a % of your property and you need to pay this % back within 5 years. However, the Deposit Unlock scheme enables you to own the whole property – you do not pay back any equity to the building company 
As it stands, most buyers are asked to pay between a 10% to 30% deposit for a new build property. The Deposit Unlock scheme however enables you to have a 5% deposit on both new build houses and flats. Whilst this is still subject to the lenders eligibility criteria, this is a fantastic way to help first time buyers get on the property ladder. 
How does it work? 
There are currently 23 building companies registered with the Deposit Unlock scheme with more in the pipeline to join.  
Providing the building company is on the list of approved house builders, a loan confirmation letter is issued.  
HD Consultants would then pass this on to the lender and an agreement in principle can be issued subject to eligibility checks. 
Please note, the Deposit Unlock scheme is only available to residential customers. It is not available for investors. 
To find out more information and review your options, contact me today 
Victoria Bennett CeMap 
mobile 07305 396811 
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