For many people, saving a huge deposit for a house can seem impossible, preventing them from getting onto the property ladder. So housebuilders, lenders and insurers have developed an initiative called Deposit Unlock.
What exactly is Deposit Unlock?
- A scheme designed to open up the new-build market to borrowers with small deposits.
- It enables first time buyers and existing homeowners to purchase a new-build home with a 5% deposit.
- It provides customers with competitively priced mortgage products and makes buying a new home more affordable
Who can use it?
Unlike schemes such as Help to Buy, it’s not just limited to first time buyers. It can be used on properties sold buy the home builders that have worked with the Home Builders Federation in England, Scotland and Wales.
If you want to learn more about the deposits and schemes that you can use to buy a home, our Eventbrite workshops are totally free. Book on to one via our Events page.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE