HBF launches dedicated Deposit Unlock website for home buyers

HBF launches dedicated Deposit Unlock website for home buyers 150 150 Haggie Partners

The Home Builders Federation (HBF) has launched a dedicated website for its affordable homeownership scheme, Deposit Unlock, to enable homebuyers to find new-build properties available with low-deposit mortgages.

Deposit Unlock launched in 2021 to provide affordable, 95% mortgages for first-time buyers and home movers alike. The scheme was developed by homebuilders and HBF, in partnership with Gallagher Re, the global reinsurance broker, to help more consumers to realise their dream of home ownership.

The new website allows potential buyers to search new-build properties near them that have exclusive mortgage deals with only a 5% deposit. This means that consumers can compare new homes and leading 95% mortgage products from around the UK and Northern Ireland, via the one website.

The launch comes at a crucial time for homebuyers as the end date for the Help to Buy scheme in England draws closer.

David O’Leary, executive director at the HBF, said: “This website marks another step forward in the evolution of Deposit Unlock. The scheme began with one lender and 17 home builders but has now extended across a range of mortgage lenders and more than 40 HBF members, covering all parts of the country.

“Through Deposit Unlock builders are making a big investment in supporting prospective new-build purchasers to access the sorts of mortgage deals that would otherwise not be available. This website will make the scheme more visible for homebuyers and for many will be the first step on the journey to home ownership.”

Steven Rance, managing partner of mortgage indemnity reinsurance at Gallagher Re, added: “Deposit Unlock is increasingly filling the post Help to Buy vacuum with national support from builders and mortgage lenders of all shapes and sizes. This website will make it easier for homebuyers to find a new home and competitive mortgage deal.”

The website completion comes ahead HBF’s ‘New Homes Week’ which runs from 27 February to 3 March and will see the new homes industry promoting the advantages of new builds to customers, with an emphasis on options for homebuyers to use to access home ownership.

The Deposit Unlock website is now live and can be accessed directly at www.deposit-unlock.co.uk