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Unlock your new build dreams with Deposit Unlock!

At Perenna, we know that saving up for a house deposit can be tough. 23 April 2024 by Abi Walker

That is why we’re thrilled to unveil Deposit Unlock. This is a ground breaking scheme that brings your dream of owning a new build home within reach. 

Here’s what Perenna Deposit Unlock offers: 

  • No more daunting deposit needs. With just a 5% deposit, you can buy your new build home. 
  • Flexibility in funding your deposit. Whether it’s your savings, developer incentives, or a mix, we make the journey to owning a home much easier. 
  • First-time buyer or moving home? Deposit Unlock can help open that new build door.  

Are you ready to take the first step to your dream home? Our mortgages are available through brokers only. We can help you find a broker to provide advice on your mortgage needs. Plus, they’ll know all about our range, so can answer any questions you may have.  

Find out more about Deposit Unlock and take that first step towards your dream home!  

How much can you borrow?  

To help you understand how a Deposit Unlock mortgage works, here is an example. 

If you buy a house for £200,000, with a 5% deposit of £10,000, you would need a repayment mortgage of £190,000. 

If you repay this mortgage over 40 years on a fixed interest rate of 6.49% this would require 479 payments of £1,111.01, plus 1 payment of £1121.08.  

The total amount payable is £533,534.87 made up of the loan amount plus interest of £343,584.87 and a funds transfer fee of £15.00. The overall cost for comparison is 6.7% APRC representative.¹

Want to find out if Perenna could help you? Why not use our calculator to find out how much you could borrow? It’s completely confidential, does not affect your credit score and should only take a few minutes.
 

 

You could lose your home if you don’t keep up your mortgage repayments.

 

 

You could lose your home if you don’t keep up your mortgage repayments.

¹ Based on a Mortgage Illustration which was produced on 16 April 2024. The information remains valid until 16 April 2024. After that date, it may change in line with market conditions