Deposit Unlock Scheme

The Deposit Unlock scheme helps first-time buyers and home movers get on the property ladder with just a 5% deposit—exclusively for new-build homes. Designed in partnership with major developers and lenders, this scheme makes homeownership more accessible without relying on government support. At WIS Mortgages, we help you navigate your Deposit Unlock options free of charge.

Get a Free Initial Quote Contact Us

Key Benefits

Buy with Just 5% Deposit:

Ideal for buyers struggling to save a large deposit.

Access Competitive Rates:

Unlike many low-deposit deals, rates are often competitive.

Available to Movers Too:

Not just for first-time buyers—home movers can also apply.

New-Build Exclusivity:

Use the scheme on eligible new-build homes from participating developers.

No Broker Fees:

Get expert, fee-free advice on your Deposit Unlock mortgage options.

Eligibility Criteria and Requirements.

Who Can Apply?

You may be eligible if you:

Are a first-time buyer or home mover
Are purchasing a new-build property through a participating developer
Have a 5% deposit
Are applying for a residential mortgage (not buy-to-let)
Meet standard credit and affordability criteria

What are the Requirements?

Reservation form or property details from an approved developer
Proof of deposit
Proof of income (payslips, accounts, or employment contract)
Bank statements (typically 3–6 months)
Photo ID and proof of address

Please note: Meeting these criteria does not guarantee mortgage approval. All applications are subject to underwriting and affordability checks by the lender.

Instant Mortgage Quoting

Use the quick and simple quotation system to get a mortgage quote in seconds.

How the Application Process Work?

Applying for a mortgage through our service is straightforward

Book an Appointment

Book an appointment with one of our advisers to discuss your mortgage requirements. Be transparent about your situation so we make the whole journey much smoother for you.

Download MortgagX app

Download MortgagX app, fill in a few key details, select the recommended mortgage product, upload your documents and relax till we get your mortgage sorted.

Completion

Enter your new dream home!

Apply Now

Processing times vary depending on lender efficiency and individual case complexity.

Important Information And Regulatory Disclosure

Risk Warning

Your property may be repossessed if you do not keep up repayments on your mortgage.

FCA Authorisation

This service is provided by WIS Mortgages, which is authorised and regulated by the Financial Conduct Authority.

Fee & Commission Disclosure

We act as a mortgage intermediary and may receive commission from lenders. A fee may be payable for mortgage advice, which will be disclosed clearly in advance.

Adviser Disclosure

This content is for informational purposes and does not constitute personalised financial advice. Mortgage advice will be provided after assessing your individual circumstances.

Frequently Asked Questions

Find answers to some of the most common questions about mortgages, applications, and our services.

It’s a private initiative that allows buyers to purchase eligible new-build homes with a 5% deposit, supported by selected lenders and developers.

Lenders like Nationwide, Accord, and Newcastle Building Society support the scheme through participating developers.

Pros: Low deposit, competitive rates, accessible to movers. Cons: Limited to new-builds and participating developers; fewer lender options than standard mortgages.

No. Deposit Unlock cannot be used alongside other government schemes like Shared Ownership or First Homes.

No. It’s available to both first-time buyers and home movers, as long as you’re buying a qualifying new-build home.

Just 5% of the purchase price, with participating lenders providing the remaining 95% through a qualifying mortgage.

No. Only homes built by participating developers are eligible under the scheme. Always check availability with the builder.

Yes. You can use your Help to Buy ISA or Lifetime ISA savings toward your 5% deposit.

Yes. While it varies, many lenders set a maximum purchase price, typically around £750,000 depending on location.

Currently, the Deposit Unlock scheme is only available in England and Wales. Availability may expand in future.

Want to Talk it Through?

020 3011 1986 help@wismortgages.co.uk

We will be delighted to speak with you on the phone through our live chat feature now.

*Call us from Monday to Friday (9am to 6.30pm) and Saturday (9.30am - 3pm) We accept applications over the phone