Our deposit booster proposition is great for people with access to financial support from family and friends. But what if you don’t have that?
New Build Boost essentially allows house builders to act as deposit boosters, giving you a 15% interest-free equity loan to help you find your place on the property ladder.
It differs from our typical deposit boost in a few ways:
A normal deposit boost can be gifted, but your New Build Boost has to be repaid.
A deposit boost can be an equity loan, but it isn’t frozen for 5 years like the boost.
If you do have access to financial support from family, they can still contribute to your deposit with a gift.
Friends can't act as deposit boosters on New Build Boost mortgages.