As economic times have fluctuated in the past decade and a half, dipping to dramatic lows around 2007 and 2008 on the back of the financial crisis, the ‘no deposit home loans’ has been a causality of circumstances. When lenders were more optimistic, the ‘no deposit home loan’, as the name suggests, allowed you to buy a house and borrow the money without paying a cent on your deposit. The 100 percent loan, which the ‘no deposit loan’ essentially acted as, can still be achieved, but it comes with a horde of parameters. Most of those parameters revolve around a guarantor, which more often than not is the loan seeker’s parents.

This is an excellent and popular way to get young people into their first home sooner, and could work for you. While there are other options – such as proof of a significant income and a smallish deposit of around three and five percent – they are all draped in red tape, and become quite complicated quite quickly. At Australian Capital Lending, however, we can lay out the options in layman’s terms – no matter how ambitious your home loan plans may be.