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Sydney Mortgage
Revealed: Important new information for First Time Buyers.
With falling interest rates, now is definitely the time to refinance your home loan interest rate.
Is your home loan still a good deal? Our free home loan review will find out for you.

No deposit home loans

No deposit home loans allow borrowers to take on a mortgage without needing the traditional 10-20% deposit.  If you are struggling to save up a deposit but feel you are ready to take on a Sydney mortgage, a no deposit loan may be for you.

Remember though, the loan still needs to be paid back so make sure you can afford the monthly repayments before applying.

Interest Rates are Falling FAST.

Make sure you take advantage by speaking to a Sydney finance broker now. Just complete the form below
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Most lenders will have strict rules associated with a no-deposit loan, such as requiring extensive proof of income and employment history, along with your savings history.



Advantages:

  • Potential home owners do not need to save the usual 10 per cent deposit
  • Can allow you get out of the rental market and into your own home faster
  • Competitive rates are increasing as more lenders introduce this type of loan
  • Many of these loans come with extra benefits such as early repayments and redraw facilities


Risks:

  • Borrowing 100% of a property means you pay more interest over the length of the loan
  • It is likely that the interest rate will be higher for a no deposit loan
  • Some lenders will charge you mortgage insurance
  • You will still need to save for legal fees, building inspections , stamp duty etc


No deposit loans are suitable for borrowers who do not have a lot of savings for a deposit, but have a strong employment history and the ability to meet regular repayments.

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