Secure your new Persimmon home with a 5% deposit
What is Deposit Unlock?
Deposit Unlock is a new mortgage guarantee product which allows buyers to purchase a new-build home with a deposit of just 5%.
Using the scheme, first-time buyers and existing homeowners can secure selected new Persimmon homes up to the value of £750,000.*
How it works
Developed in a collaboration between the Home Builders Federation, mortgage lenders, the housebuilding industry and the scheme manager, the scheme enables participating lenders to offer 90-95% LTV mortgages on new-build homes.
The product is backed by mortgage indemnity insurance to which Persimmon Homes makes a financial contribution. The insurance covers the lender in the event of a loss as a result of a loss as a result of repossession.
Who can use it?
Deposit Unlock is intended for first-time buyers and second-steppers with a low deposit. It is not available to buy-to-let borrowers.
Which homes can it be used on?
The offer is available on selected plots only and is subject to contract and status. Following withdrawal or termination of any offer, Persimmon reserves the right to extend, reintroduce or amend any such offer as we see fit at any time.
Can it be used in conjunction with other schemes?
No, Deposit Unlock cannot be used in conjunction with other Persimmon Homes offer or incentive.
How is affordability calculated?
Each lender using the scheme (currently Nationwide and Newcastle Building Society) will assess affordability in the normal way using their lending criteria.
What do I do next?
If you are interested in using the Deposit Unlock scheme on a new Persimmon home, search for your new home here and contact us today.
Our sales teams will connect you with a specialist New Build Mortgage Advisor to help arrange your Deposit Unlock application and mortgage.
*limits vary from lender to lender.
Persimmon Homes Ltd does not offer mortgage advice to any advice should be obtained from the mortgage advisor or lender.