Bluestone Mortgages launch 95% LTV mortgage through deposit unlock scheme to empower first time buyers

Posted on:
February 15, 2024
Posted by:
Bluestone Mortgages

Bluestone Mortgages today announces the launch of Deposit Unlock scheme to empower first-time buyers who cannot secure finance through mainstream lenders to get onto the property ladder. 

Deposit Unlock is an innovative mortgage guarantee scheme created to help borrowers secure a new-build home with a deposit of only 5%.  As the first and only complex credit lender to offer the Deposit Unlock scheme, first-time buyers can apply for a 95% LTV new build mortgage with a deposit of only 5%, up to a maximum loan of £600,000 over a 35-year term, with rates starting at 7.94%. The scheme applies specifically to new build houses and flats from selected developers.  

The new Deposit Unlock product range will not involve credit scoring and includes both standard and fee-free options. This range will provide brokers with solutions that support customers with adverse credit, or those who are self-employed or contractors.    


Reece Beddall, Sales & Marketing Director, Bluestone Mortgages, comments: “Following the end of the Help to Buy scheme in October 2022, combined with the cost of living crisis squeezing consumers’ finances, prospective homeowners are having to put their plans for homeownership on hold. As the first and only specialist lender in the market to offer Deposit Unlock to first time buyers, we are empowering our customers to find new solutions to unlock their homeownership dreams. This partnership scheme reinforces our commitment to supporting disenfranchised customers with small deposits to make their first step on the property ladder, as well as helping housebuilders find customers for their property.” 

Call us

Our lines are open

Mon-Fri 9:00am – 5:30am.
Calls may be recorded.

Your BDMs

We're transferring you to another website

You've clicked a link that takes you off of our site. No need to panic!

Just click the continue button and we'll take you through to the other site.
If you do not wish to proceed click below to return to our website.