Deposit Unlock
Industry scheme run by HBF and reinsurers — 5% deposit on specific new builds from participating lenders.
- Who it's for
- New-build buyers with a 5% deposit
- Price cap
- Varies by lender (typically £600k–£750k max loan)
- Status (April 2026)
- Live, accepting new applicants.
How it works
Not a government scheme. The Home Builders Federation and Gallagher Re provide insurance so lenders will write 90–95% LTV mortgages on new-build homes. The developer pays the premium, so the buyer's deposit can be as low as 5%. Available on selected new builds from participating lenders: Nationwide, Accord, Newcastle Building Society, Halifax (the panel changes — confirm before reserving). Max loan size varies by lender (~£600k Accord, ~£750k Nationwide).
Official source: https://www.sharetobuy.com/schemes/deposit-unlock/
Frequently asked
Why are Deposit Unlock rates higher?
The scheme's insurance doesn't remove risk for the lender — it transfers it. The lender still prices for that, so rates tend to sit 0.2-0.5 percentage points above equivalent 95% LTV products without Deposit Unlock backing.
Can I use Deposit Unlock on any new build?
No — only on qualifying new builds from developers enrolled in the scheme, bought through a participating lender. The developer pays the premium; if they're not in, it's not available.
Where this sits in your planning
Schemes are one input to a buying decision, not the decision itself. Model the same purchase with and without the scheme on the affordability calculator — the total cash required and the monthly payment are usually the deciders, not the headline scheme benefit.