Deposit Unlock: you could buy with just a 5% deposit
What is Deposit Unlock?
Deposit Unlock is devised in collaboration with lenders and the housebuilding industry.
The scheme enables first time buyers and existing homeowners to purchase a new-build home with a 5% deposit*, and is exclusively available on selected new-build homes.
It provides customers with competitively priced mortgage products up to £750,000 and makes buying a new home more affordable.
Find out more about the benefits and how to apply below.
What are the benefits?
- You can buy a new home with a 95% mortgage.
- The scheme allows customers to access a low deposit mortgage at competitive interest rates.
How do I apply?
- Search for a new home near you below and contact us today.
- We will then put you in touch with a specialist New Homes Mortgage Adviser who can help you arrange your mortgage using Deposit Unlock.
For more information on how the scheme works visit the Deposit Unlock website.
*Click here for the full terms and conditions.
Deposit Unlock FAQs
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The Deposit Unlock scheme enables first time buyers and existing homeowners the chance to buy a new home with just a 5% deposit. It provides customers with competitively priced mortgage products up to £750,000 and means you can become a homeowner with just a 95% mortgage.
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Deposit Unlock is open to first-time buyers and existing homeowners in England, Wales and Scotland.
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- Applying for this 5% deposit scheme is easy. Here's what you need to do:
- Find your Barratt home among our wide range of brand-new homes
- Get in touch with one of our Sales Advisers
- They’ll put you in contact with a New Homes Mortgage Adviser
- They'll help you arrange your mortgage using Deposit Unlock
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The 5% deposit home scheme is available on selected new-build Barratt homes with a maximum of £750,000 required from mortgage products.
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No. This is because the property purchased through Deposit Unlock must be the only mortgaged property.
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Deposit Unlock was launched in November 2021 and is still available on homes today.
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Deposit Unlock can't be used in conjunction with any other schemes. So, if you're already using another Barratt Homes offer or incentive, you won't be able to apply for this 5% deposit scheme as well.
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Key Worker Deposit Contribution
As a thank you for the support provided to our communities, we are offering key workers a contribution of £1,000 for every £20,000 spent on the purchase price, plus flooring.
Deposit Boost
If you have a 10% deposit, we could boost it with a further 5% of the purchase price.
Help to Buy - Wales
Whether you're a first time buyer or existing homeowner, you could buy a brand-new home in Wales with just a 5% deposit.
Parent Power
Parents can also help. Typically they (or a close family member) could help you with your deposit, guarantee your mortgage, or act as a joint loan applicant.
Armed Forces Deposit Contribution
We're offering Britain's military servicemen and women a 5% deposit contribution to help them buy a brand-new home.
Forces Help to Buy
Forces Help to Buy is a scheme provided by the Government that supports the Armed Forces onto the home ownership ladder.