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Deposit Unlock: the key to your new home
This innovative way to buy a new build, means you could be in your new Cala home sooner than you think, with as little as a 5% deposit.
What is Deposit Unlock?
Deposit Unlock is a new scheme created by the Home Builders Federation (HBF) in conjunction with the housebuilding industry and mortgage lenders. It allows purchasers to buy a new-build home with as little as a 5% deposit.
The scheme is open to first time buyers and home movers who wish to buy a new-build home from a registered HBF member, with a deposit between 5% and 9.99%.
If you are currently paying money towards your rent and you would prefer to pay this towards buying a new home, then it could be worth exploring what Deposit Unlock could do to make buying a new home more affordable for you.
Deposit Unlock not suitable for you?
If Deposit Unlock isn't the incentive for you, we also have Own New's Rate Reducer.
It's a regular mortgage, just with lower monthly payments for the initial period. Own New's Rate Reducer makes your new Cala home a reduced rate reality.
Where do I start with Deposit Unlock?
Confirmation letter
We will provide you with a letter to give to your Mortgage Broker or Independent Financial Advisor that confirms that Cala is prepared to offer Deposit Unlock. We cannot guarantee that the lender will accept your application.
Mortgage Lenders
Your Mortgage Broker or Independent Financial Adviser will then advise you on the participating mortgage lenders and take you through the process of applying for a mortgage.
Proceed with the sale
If your mortgage application is successful, you can reserve your Cala home and you’re one step closer to your new home.
Deposit Unlock FAQs
Deposit Unlock makes buying a new home more affordable by enabling customers to borrow up to 95% of the value of an eligible new build home and, providing competitively priced mortgage products.
On selected developments, Cala will help customers improve their eligibility to purchase a home by taking out an insurance policy that greatly reduces the risk for lenders and ensures they are able to lend to customers with smaller deposits.*
Subject to lending criteria, customers could borrow between 90.01% and 95% of the property purchase price (loan-to-value) through participating mortgage lenders, at competitive interest rates. The maximum amount that can be borrowed is £750,000.
As the Deposit Unlock scheme was developed as an affordable, low-deposit mortgage solution, the maximum amount of deposit that can be put down is 9.99% of the property purchase price.
Deposit Unlock Calculator
With Deposit Unlock, you could buy a new home up the value of £833,000 (subject to mortgage lender's criteria). Our calculators will help you find out what size of deposit you would need to purchase your chosen home. If you already have a deposit saved, you can find out how much further it could stretch through the scheme.
Why buy a new home from Cala?
There’s nothing quite like moving into a brand-new home. From newly installed kitchens and bathrooms to the peace of mind of knowing that your property is safe, energy efficient and low maintenance.
What’s more, you’re buying a complete blank canvas on which to stamp your own individual style. Take a look at our top reasons to buy a new home below.
Less Maintenance
Individual Choice
Peace of Mind
A Blank Canvas
Energy Efficient
Location Location Location
Move Chain Free
Safe as Houses
A vibrant new community
Less Maintenance
Opting for a new build home means less maintenance and cost compared to older houses. Modern construction ensures durability, minimising the need for constant repairs. Enjoy a low-maintenance lifestyle and the peace of mind that your home is designed for longevity, freeing up your time and money for what matters most.
Purchase your home from a plan and tailor it to your own individual taste. Choose from a range of high-quality kitchens and bathrooms, with customisable styles, colors, and finishes that reflect your personal preferences.
Your new home is covered by an NHBC or similar industry-regulated insurance scheme covering the structural integrity of your new home from years three to 10.
The first two years of the warranty is provided by us. This means we take responsibility for fixing any quality issues during this period after you move in. We also provide you a 24-hour response service for emergency calls. We take personal pride in our customer service.
Peace of Mind Built In
A new build home allows you to make it your own. When you move into a new home, there’s no need to live with other people’s decorating disasters! Your light, spacious and neutral interior is the perfect blank canvas on which to create a home to suit your individual taste and lifestyle.
Choosing a new home means embracing advanced energy efficiency. With superior insulation and modern energy-saving features, your new property outperforms older homes, ensuring not just comfort but also cost savings over time. Make a smart investment in a home that aligns with contemporary standards for sustainable living.
Tackle Energy Use
Prioritising prime locations, we meticulously select sustainable sites that offer convenient access to local schools, amenities, and robust transport links. Our focus on strategic placement ensures that your new home is not just a residence but a gateway to a well-connected and vibrant community. Choose the advantage of a location that complements your lifestyle while contributing to the long-term value of your investment.
Experience a chain-free move with our Part Exchange service. Say goodbye to the complications of being stuck in a chain, saving both time and money. Discover more about this hassle-free option and explore the convenience through our Part Exchange calculator.
Cala's up to 100% Part Exchange Service
Join a vibrant new community when you choose one of our developments. Whether showcasing modern or traditional architecture, our designs are crafted to nurture a strong sense of community. Experience the satisfaction of becoming a valued part of a neighborhood where connection and camaraderie thrive.
Deposit Unlock Terms and Conditions
- *Deposit Unlock is subject to lender participation and is available on selected Cala homes up to a maximum purchase price of £833,000. This is subject to change and the lender’s criteria.
- Deposit Unlock may be available in conjunction with other Cala offers and incentives. Please ask your Sales advisor for more information in this regard at the time. Any additional offers or incentives will be applied at Cala’s sole discretion.
- You must have between a 5% and 9.99% deposit to benefit from Deposit Unlock.
- If we believe that you may benefit from the scheme, we will issue you with a confirmation letter, which allows you to apply for a mortgage under Deposit Unlock, subject to the lender’s own criteria.
- We do not offer mortgage advice. We recommend that you speak with an Independent Financial Adviser to help discuss your individual circumstances. Deposit Unlock is backed by a mortgage indemnity insurance paid in part by Cala Homes. The insurance covers the lender from loss as a result of default, but your obligations to the lender remain unchanged.
- Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.
