No Deposit Home Loans

The days of the 100% home loan unfortunately came to an end on 9th April 2009 when St.George Bank withdrew their No Deposit Home Loan from the market. There is an alternative though that will still allow you to borrow 100% of the purchase price. A guarantor is required to apply for this loan. Please see our Guarantor Home Loan page for more information on this type of home loan.

If you don’t have a guarantor then unfortunately we are unable to offer you a 100% home loan. The maximum you may now be able to borrow without a guarantor is 95% of the purchase price plus the lenders mortgage insurance premium. So in total the loan can be up over 99% of the purchase price depending on the amount of the mortgage insurance premium. Please note though that in order to borrow 95% of the purchase price plus mortgage insurance you will be required to have sufficient funds to cover a 5% deposit and your purchase costs such as stamp duty. These funds don’t necessarily need to be genuinely saved though. Please see our first home loan page for information on the alternatives to a no deposit home loan.

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