Deposit unlock is a scheme that enables you to buy a new Beal home with just a 5% deposit, and is available on a wide range of new build homes up to the value of £833,250*. It is the low deposit mortgage solution designed to give you the opportunity to buy your dream new Beal home.

• You only need a 5% deposit and a 95% mortgage.
• The scheme is available to both first-time buyers and home movers.
• There is no upper limit on your household income.
• You will benefit from an insurance backed guarantee, allowing you to access competitive mortgage rates.
• The scheme is available on new build properties up to the price of £833,250*
• You own 100% of the property.

The Home Builders Federation and its members have joined together to create a house builder-owned insurance scheme, managed by Gallagher Re. This means that they offer mortgage lenders 35% protection on their mortgages, so that they can lend to customers at 95% on new build housing.

Usually, lenders take out insurance on mortgages that might carry a higher risk, such as first-time buyers with limited deposit. The insurance means that lenders can recoup some costs if the home is repossessed, however, this can be expensive for lenders. Deposit Unlock overcomes this as house builders pay for the insurance, not lenders.

Customers only need to put down a 5% deposit and can purchase a property up to £833,250* with no restrictions on location, subject to lender’s approval.

Deposit Unlock is currently available with participating bank lenders including Nationwide Building Society, Accord Mortgages, BlueStone and Perenna.**