Most people think you need a deposit to buy a home. That’s not always the case.
Here’s how it actually works in Australia.
In some situations, you can buy with no genuine savings. This is usually done using a guarantor, often a parent, who offers part of their property as security. This can help you avoid needing a cash deposit and may reduce or remove LMI.
There are also scenarios where equity can act as your deposit. If you already own property, or have access to equity through family, that can be used instead of cash.
Some buyers may also qualify for government schemes that reduce the deposit required. These don’t remove the need for a contribution entirely, but they can make it much lower than expected.
The key point is this. No deposit does not mean no structure. Lenders still need to see stable income, a clear repayment capacity, and a sensible overall position.
It comes down to how your situation is presented and structured.
