THE DEPOSIT UNLOCK SCHEME
MAKE YOUR DREAM HOME PURCHASE A REALITY WITH THE DEPOSIT UNLOCK SCHEME
Deposit Unlock is an innovative scheme created to help first-time buyers onto the property ladder and get more existing home owners moving.
With just a 5% deposit, you could secure a competitively-priced mortgage up to £750,000 on selected Devine Homes developments.
HOW DOES THE SCHEME WORK?
Deposit Unlock is a mortgage indemnity scheme which supports 95% Loan to Value lending on selected new build properties.
It has been developed by the Home Builders Federation, along with home builder members, to ensure that competitively-priced mortgages for low deposit new-build home buyers are available to support first and next-time buyers to own their own home.
Upon completion of home purchases offered as part of the scheme, Devine Homes pays a percentage of the purchase price into an insurance policy. The policy reduces risk for the lender, protecting them from a proportion of the potential loss in the event of any lender loss as a result of default.
