What is Deposit Unlock?

Deposit Unlock is a new scheme created by the Home Builders Federation (HBF) in conjunction with the housebuilding industry and mortgage lenders. It allows purchasers to buy a new-build home with as little as a 5% deposit.

The scheme is open to first time buyers and home movers who wish to buy a new-build home from a registered HBF member, with a deposit between 5% and 9.99%.

If you are currently paying money towards your rent and you would prefer to pay this towards buying a new home, then it could be worth exploring what Deposit Unlock could do to make buying a new home more affordable for you.

It reduces the amount of deposit required to purchase a home and gives you access to better mortgage deals.

Deposit unlock | What is deposit unlock? | Deposit Unlock Scheme Calculator

What are the benefits?

Deposit Unlock makes buying a new home more affordable by enabling customers to borrow up to 95% of the value of an eligible new build home and, providing competitively priced mortgage products.

How does it work?

On selected developments, Legal & General Homes will help customers improve their eligibility to purchase a home by taking out an insurance policy that greatly reduces the risk for lenders and ensures they are able to lend to customers with smaller deposits.*

How can I use Deposit Unlock?

What is the maximum value of a property that can be purchased?

With Deposit Unlock you could buy a new home up to the value of £833,000 (subject to mortgage lender’s criteria).

Take a look at the examples below to see how much of a deposit you might need:

Property Purchase Price

Mortgage Amount

5% Deposit










Figures shown are provided for illustration purposes only. Please consult an Independent Financial Advisor.

How much can I borrow?

Subject to lending criteria, customers could borrow between 90.01% and 95% of the property purchase price (loan-to-value) through participating mortgage lenders, at competitive interest rates. The maximum amount that can be borrowed is £750,000.

Is there a limit on the size of the deposit I can put down?

As the Deposit Unlock scheme was developed as an affordable, low-deposit mortgage solution, the maximum amount of deposit that can be put down is 9.99% of the property purchase price.

Why buy new with Legal & General Homes?

There’s nothing quite like moving into a brand-new home. From newly installed kitchens and bathrooms to the peace of mind of knowing that your property is safe, energy efficient and low maintenance.

What’s more, you’re buying a complete blank canvas on which to stamp your own individual style. Take a look at our top reasons to buy a new home.

Terms & Conditions*

  1. *Deposit Unlock is subject to lender participation and is available on selected Legal & General Homes properties up to a maximum purchase price of £833,000. This is subject to change and the lender’s criteria.
  2. Deposit Unlock may be available in conjunction with other Legal & General Homes offers and incentives. Please ask your Sales advisor for more information in this regard at the time. Any additional offers or incentives will be applied at Legal & General Homes' sole discretion.
  3. You must have between a 5% and 9.99% deposit to benefit from Deposit Unlock.
  4. If we believe that you may benefit from the scheme, we will issue you with a confirmation letter, which allows you to apply for a mortgage under Deposit Unlock, subject to the lender’s own criteria.
  5. We do not offer mortgage advice. We recommend that you speak with an Independent Financial Adviser to help discuss your individual circumstances. Deposit Unlock is backed by a mortgage indemnity insurance paid in part by Legal & General Homes. The insurance covers the lender from loss as a result of default, but your obligations to the lender remain unchanged.
  6. Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.
Deposit Unlock: Secure your dream home with just a 5% deposit

Deposit Unlock: Secure your dream home with just a 5% deposit

Tackle energy use with a new home

Tackle energy use with a new home

Keeping active in Oxfordshire this summer

Keeping active in Oxfordshire this summer

Own New: the new way to make buying a Legal & General home more affordable

Own New: the new way to make buying a Legal & General home more affordable

(up to £833,000)

Min £100K
Max £833K

Your results

To use Deposit Unlock to purchase a house at: £
You would need a deposit of at least:
And the maximum deposit you could use would be:

(up to £83,000)

Min £0
Max £83K

Your results

With a deposit of: £
You may be able to use Deposit Unlock on a home from:
Up to a maximum of:
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