What is Deposit Unlock?

Buy your dream home using the Deposit Unlock Scheme

Deposit Unlock is a new mortgage backed lending scheme...

…designed to help customers secure a new
Thakeham home with a loan value of up to £750,000
(Sale Price £833,000) with a deposit of just 5%. It is
the low deposit mortgage solution and will give more
people the opportunity to buy their own home.

Customer Benefits

  • Able to secure a mortgage on a new build property with only 5% deposit (individual lenders have their own criteria’s e.g. Newcastle Building Society excludes studio and one bed apartments) 95% mortgage.
  • Available to first-time buyers and the second hand market, not available to buy-to-let borrowers.
  • Buyers need to seek their own independent financial advice. The Sales Team can provide a preferred list of options to choose from as guidance.
  • You own 100% of your new home.

How to buy with Deposit Unlock:

  1. You view and reserve your chosen property*
  2. Thakeham reserves your home and issues a Loan Confirmation letter
  3. You pass a letter to your mortgage broker or directly to your lender
  4. Lender records Unique ID and offers you a mortgage under Deposit Unlock
  5. You fully own your new home


*Available on selected plots only.

How it works:

The Home Builders Federation and its members have joined together to create a housebuilder owned insurance scheme, with insurance provided by Gallagher Re. This means that they offer competitively priced mortgages for low deposit new build homes supporting first and second hand market buyers to own their homes.
Upon completion of buying your new home which is offered as part of the Deposit Unlock scheme, the housebuilder pays a percentage of the purchase price into an insurance policy.

How it works:

This new scheme protects the lender from a proportional of potential loss in the event of a default in payment. 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 and Newcastle Building Society**.


Read more here


*Subject to lenders’ participation on selected homes and developments. Rates and maximum purchase price vary via lender. **Based on Nationwide’s current guidelines from November 2021.



01483 912 483

If you would like to find out more about how Deposit Unlock can help you buy a new Thakeham home, please contact us and we will be pleased to explain further.

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