A Guide to Deposit Unlock

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With the end of the government’s Help to Buy: Equity Loan scheme fast approaching, many first-time buyers might be wondering how they will manage to get onto the property ladder. However, as one door closes another has already opened with the emergence of a new product – Deposit Unlock.

This scheme differs from the existing Help to Buy structure, as both first-time buyers and existing homeowners will now be able to take advantage of Deposit Unlock to make their property dreams a reality, so this is definitely one worth understanding. This guide covers the five W’s of Deposit Unlock: the what, who, where, when and why, to help clarify how this scheme will fit into the new-build market.


So, what is Deposit Unlock? It is a collaboration between housebuilders and lenders to help homebuyers afford their home. It applies to new-build homes only, valued up to £833,520 and allows buyers to own 100% of their property.

The scheme requires homebuyers to pay a 5% deposit with a two-year fixed mortgage rate of 2.79%.  Much more affordable than a typical mortgage rate of 3.29% offered outside of the scheme.


The ‘who’ question of Deposit Unlock has two arms; who has developed this scheme and who are the customers?

The scheme is a collaboration between housebuilders and lenders. The lenders provide the rates, whilst the housebuilders assist by giving the lender the protection of insuring the mortgage payment – and of course they will be building your beautiful new home, a unique and effective partnership.

Lead lenders for the scheme, Nationwide and the Newcastle Building Society have slight differences in their offerings but their core aims are similar: giving homebuyers the most competitive mortgage rates to assist them in purchasing a home.

For the second ‘who’ question, we look to the customers. The scheme is fully inclusive; it is available for existing homeowners, as well as first-time buyers, unlike Help to Buy which was only accessible to first-time buyers.


The Deposit Unlock scheme has no regional restrictions. Meaning buyers can search out their dream home right across the country.


Now! Deposit Unlock is live so homebuyers can start their journey today.  Housebuilders are ready to talk to you so feel free to pick up the phone or drop an email to anyone that is offering the scheme.


The all-important question: why chose to buy a home under this scheme?

Although new in its existence, Deposit Unlock holds huge potential and is already increasing in popularity, shaping the future of the new-build market. With just a 5% deposit and a reduced monthly cost, home buyers will also have the benefit of a new home which will come with a 10-year NHBC warranty to give you complete peace of mind.

What does this mean for our clients?

Viv Onslow, Director of Corporate Communications at The Oracle Group commented: “Help to Buy has been a huge success, with first time buyers reaping the rewards of being able to easily get on the property ladder.

At Oracle, we want to assist our clients in promoting the Deposit Unlock scheme to their customers. We suggest producing dedicated social media content which simplifies the scheme and makes it more user-friendly. Additionally, case-studies of buyers who have used Deposit Unlock would be invaluable in promoting the scheme as well as posting a ‘Guide to Deposit Unlock’ with links to developments offering the scheme.”