Buying a home with less than 20% deposit

If you are a first home buyer, make sure you register for my first home buyer evening on the 21st of March. We will be going through heaps of topics to make your first home journey so much easier! Find out more on our Facebook page. To register, simply click here, or alternatively email your RSVP to or call 03 343 2335 by the 19th of March. Tickets are limited to 40 people.

Buying a home with less than 20% deposit can be challenging as a first home buyer. Here are a few tips and options that are available:

Banks can only lend 15% of all their money to low deposit borrowers. A low deposit borrower is anyone who has less than a 20% deposit.  If you do have a low deposit, but a strong application, it’s quite possible that we may be able to take advantage of this option.

Family help is another option. Mum or Dad may gift you some money, or if they own a home with good equity, they may be able to guarantee the loan. This can be quite complex, so if it’s an option you are looking at, I can help.

Another option can be looking at a new build. New builds are an exempt activity, which means if you are building a new home or buying a new home (which has had a code of compliance in the last six months and never owned by someone else), it is exempt from the low deposit borrowing banks offer.

I deal with lots of lenders, you aren’t just limited to borrowing from a main retail bank which has the 15% low deposit borrow limitation. This allows us to explore other lending options which may suit you better.

There are plenty of different options available, no matter your personal situation. If you are looking to buy your first home, make sure you come along to my First Home Buyers Evening on the 21st of March, 2018. Make sure you are following my Facebook page to keep updated.

If you have any question in the meantime, please give me a call on 027 886 4934. Alternatively you can email me at