Deposit Unlock Scheme launches in the North East

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There is some good news for first-time buyers looking to buy a new-build home in the North-East. Newcastle Building Society have announced they will be offering 95% mortgages in conjunction with a good selection of housebuilders. Find out more…

New mortgage indemnity scheme
The new scheme, which is called Deposit Unlock, is a new mortgage indemnity scheme developed with the Home Builder Federation (HBF) and its members. Due to start later this month, it will see Newcastle Building Society offering 95% LTV mortgages to new-build home buyers. For now, the scheme will only be available in the North-East of England. However, there is talk of a national rollout, with other lenders and builders getting involved in the coming months.
This is welcome news for those homebuyers who do not have any other means of financial support and can only afford low deposits. The scheme serves as an alternative offering to both the government’s mortgage guarantee scheme, and the current Help to Buy scheme.

Which housebuilders are involved?
In total, there are seventeen housebuilders who have joined with the HBF and the insurer Gallagher Re to enable the Deposit Unlock Scheme to come to fruition.
The housebuilders involved include, Barratt, Bellway, Bewley, Bloor, Countryside, Crest, Croudace, Davidsons, Fairview, Hill, Keepmoat, Miller, Persimmon, Redrow, Taylor Wimpey, Thakeham, and Vistry.
In the coming months we await to hear news of the scheme being opened up to more housebuilders. So, watch this space!
Schemes such as this one can make a big difference to all parties. Of course, they ultimately help new-build homebuyers get onto the property ladder in the first instance. They also help drive the momentum in housebuilding, which in turn addresses the dire need for more new homes to be built in the country.

Miller Homes developments in the North East
One of the housebuilders taking part in the Deposit Unlock Scheme with the HBF, is Miller Homes. And they have a couple of new developments in progress across the North-East of England. At the end of last year, Miller Homes was recognised at the What House Awards 2020, receiving Silver in the Best Large Housebuilder category. Such a prestigious award acknowledges the excellent work of the whole team at Miller Homes, right down to the quality of homes being built.
We have several of the Miller Homes developments listed on the New Homes Place website, all located in the North-East of England. We have shared some of them below…

Oakwood Grange development, Hazel Rigg, Newcastle upon Tyne
From smaller two-bedroom semi-detached homes to larger five-bedroom family homes, the Oakwood Grange development offers something for everyone, at very competitive prices.
Located in Hazelrigg with its excellent transport links, homes here can be found in a semi-rural setting with miles of open farmland, a nature reserve, and Northumberland Golf Club nearby.

Shown above is a four-bedroom detached house on the development, which Miller Homes have filled with thoughtful details throughout. Storage has been considered thanks to the addition of a convenient hall cupboard, alongside a separate laundry room. There are four spacious bedrooms, one with an en-suite, offering the opportunity for at least one bedroom to be used as a home office.
With a downstairs WC, an open-plan kitchen and diner, plus spacious lounge, it makes a perfect first home for growing families. Find out more about the Oakwood Grange development here.

Lambton Park development, Chester-le-Street, County Durham
Another of Miller Homes’ developments in the North-East is the award-winning Lambton Park development in County Durham. It scooped a Silver award for Best Development and a Bronze award for Best Exterior Design at the What House Awards 2020. The homes here really must be seen, as they showcase true unique character. Each home has been built with an imaginative and bespoke design, capturing the essence of the heritage of the area.

Shown here is a four-bedroom townhouse from Miller Homes which can be found on Lambton Park. The property features a lovely living room complete with a bay window, with a spacious kitchen and dining area with access through to the garden. To the upstairs there are two bedrooms which offer both en-suite facilities as well as walk-in wardrobes.
The development itself is set in an area of outstanding natural beauty, and there are 11.5km of footpaths which residents can have access for woodland and countryside walks. A new community hub also features at Lambton Park, with a handful of shops on-site including, a bakery, delicatessen, butchers, grocers, estate farm shop, florist, pharmacy, convenience store and a hairdresser/beauty salon. Discover more about Lambton Park here.

Meadow Hill, Throckley, Newcastle upon Tyne
The Meadow Hill development in Throckley has a selection of three and four-bedroom homes available. Set amongst a wealth of open green space, the village of Throckley is the ideal place to liver if you enjoy walking, running, and time spent outdoors. There is a good choice of amenities nearby with the village itself being home to several pubs, as well as a cricket club.

This is a three-bedroom semi-detached home from Miller Homes at Meadow Hill. It offers a fantastic dual aspect open plan lounge and diner, a separate kitchen, and a downstairs toilet. The three bedrooms are a good size, and the master comes with an en-suite. It makes a great first home and is available with Help to Buy, too. Don’t miss homes on the Meadow Hill development here.

Are you looking for a 95% mortgage to buy a new-build home? Search for homes in the North East using our comprehensive search tool. We bring homes from housebuilders large and small, together in one place, to make it easier for you to search for your ideal new home. Get started here.

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