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How much deposit do I need?

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While it is beneficial to generally have a 20% deposit when buying a home to live in, in some cases you can buy with a smaller deposit. It may be possible to buy with a deposit as little as 5-10% in some cases. 10% would be much more common than 5%, and 5% is very rare.


Owner Occupied: 20% preferred, but can be as little as 5% in some situations

Investment: 40% is preferred, however can be lowered to 20% in some situations. Possibly 10% if buying newly built.

If you own a property already:

You might not need money in your bank or savings as a deposit because you could use the equity in your existing home to transfer across or use as collateral, for buying another property.

Newly constructed property:

It is usually easier to buy with a smaller deposit if you intend to buy a newly built or constructed property.

Small Deposits Might Require Big Incomes:

If you’re buying with a very small deposit, then chances are you’ll need a very high or large income. That’s because you’re borrowing lots of money from the bank. So you might need to evidence you can pay such a big loan by having a high income.

Talk to us to understand more.



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