Gleeson collaborates with Perenna and Deposit Unlock to enable zero deposit home purchase
A recent collaboration between Perenna, Deposit Unlock, and Gleeson Homes allowed a customer to purchase a new build home without a deposit.
Gleeson Homes, the affordable high-quality housebuilder, contributed the 5% deposit, and the customer obtained a 95% Perenna mortgage on their new home, through the Deposit Unlock scheme.
The combined partnership helped the family of 5 move out of a rental property and into their own home without the need to save up a deposit. As Perenna can accept a 5% deposit contribution from developers, in conjunction with the Deposit Unlock scheme, this new home purchase was made possible for the customer.
Borrowers using the Deposit Unlock scheme will be able to benefit from Perenna’s flexible long-term fixed rate mortgage, with the bank able to lend up to six times income, boosting affordability.
The Deposit Unlock scheme was launched by reinsurance broker Gallager Re and the Home Builders Federation (HBF) in 2021 and allows first time buyers and existing homeowners to buy a new build home with a 5% deposit.
“We’re thrilled to see the collaboration between Perenna, Deposit Unlock, and Gleeson Homes make a meaningful difference for customers. In this instance, the customer benefited from a zero deposit because of Gleeson’s deposit contribution, a competitively priced higher LTV loan because of Perenna’s Deposit Unlock scheme, and increased affordability because of Perenna’s long-term fixed-rate mortgage, offering security as well as flexibility with early repayment charges no longer than five years.”
“Gleeson is delighted to work in collaboration with partners who share the same purpose of providing affordable routes to homeownership. As a major provider of high-quality, affordable homes across the North of England and Midlands, we remain committed to offering solutions that will enable more buyers to take their first steps on to the property ladder.”
To find out more about the Deposit Unlock scheme and which developments this scheme is applicable to, please visit: https://gleesonhomes.co.uk/deposit-unlock/
