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Deposit Unlock scheme

The low-deposit mortgage solution for new-build homes. Move now with a 5% deposit.

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Make your move a reality with the Deposit Unlock scheme

Deposit Unlock is an innovative new scheme created to get more first-time buyers onto the property ladder and get existing buyers moving.

With just a 5% deposit, you could secure a competitively priced mortgage up to £833,250 on selected Bellway developments and homes*. Better yet, it can even be used with Part Exchange, as well as our Express Mover scheme – designed to sell your home quicker with no estate agent fees for you to pay**.

How does the Deposit Unlock scheme work?

Deposit Unlock is a mortgage indemnity scheme which supports 95% Loan to Value (LTV) lending on new-build properties.

It has been developed by the Home Builders Federation along with 17 of its home builder members and the scheme manager, Gallagher Re. It ensures that competitively priced mortgages for low-deposit new-build homes are available for first-time buyers and home movers.

Upon completion of home purchases offered as part of the scheme, the developer pays a percentage of the purchase price into an insurance policy. The policy reduces risk for the lender. It protects them in the event of any lender loss.

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Find your Bellway home

Ask one of our sales advisors at your chosen development whether Deposit Unlock is available.

Check out our other schemes

Discuss with our sales advisor whether you would like to also take advantage of our Part Exchange or Express Mover schemes.

Speak to a specialist

We will put you in touch with a specialist New Build Mortgage Advisor to help arrange your Deposit Unlock application and mortgage.

Get your keys

Move into your brand new Bellway home with just a 5% deposit.

More information about Deposit Unlock

Where is it available?

Nationwide is the latest major lender to sign up. More lenders are expected to join the scheme.

What homes can be bought under the scheme?

The scheme is exclusively available on selected new-build houses and apartments.

How is affordability calculated?

Each lender using the scheme will assess affordability in the normal way using their lending criteria, which includes consideration of income, outgoings such as regular payments and living costs, as well as an assessment of future changes that might have an impact on a borrower’s ability to pay a mortgage.

How do I go about getting a new home with this mortgage product?

This scheme is available on selected developments and plots. Please call one our sales advisors at your chosen development for further information.

I’ve found a new home on a new development where the scheme is offered, can my own broker process my application?

No, there are only a few nominated brokers being used to facilitate this scheme. Therefore, you will be required to use our nominated broker.

Are buy-to-let borrowers able to use Deposit Unlock?

Deposit Unlock is designed to help those with small deposits get on the housing ladder and so is restricted to owner-occupier homes only.

Which mortgage specialist will you put me in contact with?

We will put you in touch with New Homes Mortgage Helpline, our New Build Mortgage Advisor. Bellway may receive a commission when you complete on a mortgage arranged by New Homes Mortgage Helpline.

Alternative ways to buy

No matter your circumstances, we have a range of available schemes designed to meet your needs.

Express Mover

Express Mover

Move into your new home quickly and easily with our comprehensive service.

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Our service, our promise

Part Exchange

Take advantage of our part-exchange scheme – the stress-free way to move home.

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Own New

Own New

Own your new home with just a 5% deposit. Currently available for all homes across Durham.

More than a home builder

All you need when it comes to finding your new home

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

**YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Subject to status and only available on selected Bellway developments and plots, up to a maximum loan value of £833,250. Terms and conditions apply.