Deposit Unlock Scheme
Deposit
Unlock Scheme
Deposit Unlock lets first time buyers and movers across the UK buy a new build home with just a 5% minimum deposit available.
What Is the Deposit Unlock Scheme?
The Deposit Unlock scheme is designed to help buyers with a smaller deposit get onto the property ladder, specifically for new-build homes. Normally, new-build properties require a deposit of 15% to 25%, but Deposit Unlock allows you to purchase with just a 5% deposit.
The maximum property value you can buy using this scheme is £750,000 in the UK. The exact amount you can borrow will depend on the participating lender, who will assess your personal circumstances and financial situation.
How the Scheme Works
The Deposit Unlock Scheme helps you buy a new-build home with just a 5% deposit, rather than the usual 15–25%. It’s designed to make getting on the property ladder easier for first-time buyers and home movers.
A participating lender provides the remaining 95% mortgage, backed by housebuilder‑supported insurance to reduce the lender’s risk. You still need to pass standard affordability and credit checks, and the scheme only applies to selected new-build homes from approved developers.
The maximum property value you can buy is usually £750,000, though this may vary by lender. Deposit Unlock gives you a practical way to move into a new home sooner without waiting years to save a bigger deposit.
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Things to Consider
Key Benefits
Smaller Deposit Needed
You can buy with just a 5% deposit
Move Sooner
Less time spent saving means you could own your new home faster.
Access to New-Build Homes
The scheme is specifically for new-build properties, giving you the chance to buy modern homes with the latest features.
Government and Developer Support
Backed by housebuilder insurance, the scheme encourages lenders to offer high-LTV mortgages.
Risks & Considerations
Higher Interest Rates
Mortgages with smaller deposits can come with slightly higher interest rates than standard deals.
Limited Availability:
Only selected new-build homes and participating lenders are eligible.
Deposit Still Required
You’ll need at least 5% plus extra costs like legal fees, surveys, and stamp duty.
Standard Lending Criteria Apply:
You still need to pass affordability and credit checks to qualify.
How to Apply
Talk to a UKMC Adviser
Start by talking to one of our mortgage experts. They’ll review your finances, explain how Deposit Unlock works, and check if it’s the right scheme for you.
Find an Eligible Property
You need to choose a new-build home from a participating developer that qualifies for the Deposit Unlock Scheme.
Explore Your Mortgage Options
UKMC will compare lenders offering Deposit Unlock mortgages, helping you find the best deal for your circumstances, including interest rates and repayment terms.
Submit Your Application
We’ll guide you through the mortgage application and liaise with the lender to make sure all documentation is correct.
Get Approval and Move In
Once approved, we’ll support you through completion so you can move into your new home with confidence.
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Why Choose UKMC
Simple, Straightforward Approach
Simple, Straightforward Approach
Thousands of Products
Thousands of Products
Dedicated Case Manager
Dedicated Case Manager
Free Property Insights and Reports
Free Property Insights and Reports With our online portal, you can quickly access detailed reports about your chosen property, making it easier to make informed decisions.
Reports include:
• Broadband speeds – Check connectivity before moving in.
• Energy efficiency rating – Know how much your bills might be.
• Local property trends – See prices in your postcode and compare similar homes.
• Area insights – Find out about crime rates, common professions, and property types nearby.
• Environmental info – Flood risk, geology, radon, and nearby infrastructure projects.
Plus, our handy home-buying checklist keeps you organised at every step.
Flexible Appointment Options
Flexible Appointment Options Who Can Apply
To use the Deposit Unlock Scheme, you need to meet a few key requirements:
Property Type
The scheme only applies to new-build homes from approved developers participating in Deposit Unlock.
Maximum Property Value
The property value must usually be £750,000 or below, though this may vary depending on the lender.
what our clients saying about us
At the end of my tether I was introduced to Sam from UKMC.
Previous advisors had failed to find me any deals worth looking at and I was feeling most despondent. Destined to continue paying waaaay too much for my mortgage.
Creative Director, TUX Creative Co
At the end of my tether I was introduced to Sam from UKMC.
Previous advisors had failed to find me any deals worth looking at and I was feeling most despondent. Destined to continue paying waaaay too much for my mortgage.
Creative Director, TUX Creative Co
At the end of my tether I was introduced to Sam from UKMC.
Previous advisors had failed to find me any deals worth looking at and I was feeling most despondent. Destined to continue paying waaaay too much for my mortgage.
Creative Director, TUX Creative Co
Frequently asked questions
Got questions? Let’s answer them
What is the Deposit Unlock Scheme?
Who is eligible for Deposit Unlock?
Can I use Deposit Unlock if I’ve owned a home before?
Deposit Unlock applies only to selected new-build homes from participating developers. Not all new builds are eligible, so it’s important to check before you buy.
Is there a maximum property value?
Yes. Typically, the maximum purchase price is £750,000, though this can vary depending on the developer and lender.
Can I use Deposit Unlock with other government schemes?
No. Deposit Unlock is a standalone offer and cannot usually be combined with other deposit support or government home-buying schemes.
Do I still own 100% of the property?
Yes. Unlike some schemes, Deposit Unlock allows you to own the entire property from day one.
Which lenders participate?
Several lenders offer Deposit Unlock mortgages, but availability varies. Speaking with a mortgage expert ensures you see all your options.
Will my interest rate be higher?
Possibly. Mortgages with smaller deposits can carry slightly higher interest rates than standard deals, so it’s important to get personalised advice on costs and terms
