HBF reveals new Deposit Unlock website – Mortgage Strategy

HBF reveals new Deposit Unlock website – Mortgage Strategy

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Trade body the Home Builders Federation (HBF) has launched a new website especially for the Deposit Unlock scheme.

Deposit Unlock has been designed to provide high-LTV mortgages for both first-time buyers and people wishing to move home.

It was developed between home builders, the HBF, and reinsurance broker Gallagher Re, and launched in June 2021, initially with the Newcastle Building Society.

The scheme has grown in the time since, with over 40 HBF members now taking part.

The website allows interested parties to search for new builds that are paired with mortgage deals that allow for 95% LTV borrowing. Potential borrowers will thus be able to compare homes and mortgage deals in once place.

HBF executive director David O’Leary says: “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.”

And Gallagher Re managing partner Steven Rance comments: “Deposit Unlock is increasingly filling the post Help to Buy vacuum with national support from builders and mortgage lenders of all shapes and sizes.”

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