Deposit Unlock launched in 2021 to
provide affordable, 95% mortgages for first time buyers and home movers alike.
The scheme was developed by major homebuilders and HBF, in partnership with
reinsurance broker, Gallagher Re to support more consumers to realise their
dream of homeownership.
The new website allows potential buyers
to search new build properties near them that have exclusive mortgage deals
with only a 5% deposit. This means that consumers can now compare new homes and
leading 95% mortgage products from around the UK and Northern Ireland, for
apartments and houses in one place.
The announcement comes at a crucial time
for homebuyers, as the end date for the Help to Buy scheme in England draws
David O’Leary, Executive Director at the
Home Builders Federation, commented: “The website marks another step forward in
the evolution of Deposit Unlock. The scheme began with one lender and 17 home
builders but has now extended across a range of mortgage lenders and more than
40 HBF members covering all parts of the country.
“Through Deposit Unlock builders are
making a big investment in supporting prospective new build purchasers to
access the sorts of mortgage deals that would otherwise not be available. This
website will make the scheme more visible for homebuyers and for many will be
the first step on the journey to home ownership”.
Steven Rance, Managing Partner at
Gallagher Re added: “Deposit Unlock is increasingly filling the post Help to
Buy vacuum with national support from builders and mortgage lenders of all
shapes and sizes.
“This website will make it easier for
homebuyers to find a new home and competitive mortgage deal.”
The website completion comes in ahead
HBF’s ‘New Homes Week’ which runs from 27 February to 3 March and will see the
new homes industry promoting the advantages of new builds to customers, with an
emphasis on options for homebuyers to use to access home ownership.
The Deposit Unlock website is now live
and can be accessed directly at www.deposit-unlock.co.uk
Taken from HBF website: https://www.hbf.co.uk/news/hbf-launches-dedicated-deposit-unlock-website-home-buyers/