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No Deposit Home Loans

Begin your homeowner journey sooner

Young Couple Expecting

Can I get a home loan without a deposit?

We've come up with a solution where you don’t need to save a home deposit!


Once upon a time, banks and traditional lenders offered home loans of up to 100%. However, as lending restrictions tightened in recent times, 100% home loans were pulled from the market, with most lenders now needing at least a 5% deposit of genuine savings.


With property prices continually increasing, we understand how hard it is for everyday Australians to save up a 5% deposit. With Redilend, you don’t need to save a deposit! 

No Deposit? No Worries!

  No genuine savings required
  Get yourself out of the rent market
  Borrow the full value of the property
  Avoid paying LMI

Ideal for First Home Buyers

Getting a foot onto the property ladder can feel impossible for first home buyers. With a No Deposit Home Loan, you no longer need to spend excessive amounts on rent. Your loan repayments go towards paying off your own home, and building equity in your property that can be used to get further ahead in the property market. 

Smiling Family
Couple Staying Home

How does a No Deposit Home Loan work?

Banks and other lenders require a savings history of at least six months, but we’ve waived this requirement. 


There are a few ways a No Deposit Home Loan can work:

  • Use a guarantor with no LMI. We can lend 100% of the property value when you nominate a guarantor. In this case, if there is sufficient equity built up in the guarantors security property, you could even avoid paying Lenders Mortgage Insurance (LMI), which could potentially save you tens of thousands of dollars.

  • Offer a lump sum. Proving to the banks that you’ve genuinely saved your deposit can be impossible for some people. If you are unable to save a deposit, we can accept a 5% lump sum, regardless of where it came from. Whether you sell down shares, get an inheritance, take out a loan or even win the money, we have no restrictions as to where it comes from.  

  • Pay Lenders Mortgage Insurance. Your guarantor can provide a limited guarantee of just 5% of the property value. They don’t need to offer any actual cash, they simply offer a portion of their equity as security for 5% of the value of the home you are purchasing. Because the LVR is more than 80%, you simply pay for lenders mortgage insurance. 

Everyone’s circumstances are unique to them. If you are interested in learning how a No Deposit Home Loan can help you, please reach out. 

Helping everyone from first home buyers through to professional business property investors, Redilend offers many different financial solutions.

The Simple Way to Purchase Property

Discuss your No Deposit Home Loan scenario today

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