No Deposit Loan
Tell him he’s dreamin’!
It’s a line from one of the most iconic Aussie movies of all time (The Castle) but all jokes aside, you’re not dreaming if you hear the words, ‘no deposit loan.’
People mistakenly think going down the No Deposit Loan route is an expensive way to get onto the property ladder. If a great property investment does come along, you don’t have to miss out because you don’t have a deposit up your sleeve.
A No Deposit Loan allows you to purchase a property at auction and use this loan to cover the costs.
These loans are most popular with homebuyers who have the cash for a deposit, but they’d rather keep it in their investment account because it’s earning interest. So, how does it all work?
Anyone with a No Deposit Loan pays a manageable fee for the convenience of being able to place a deposit on that dream property. We’ll talk you through the entire process and outline the pros and cons for you.
After speaking with us, you’ll be able to make an informed decision and work towards achieving your long-term goals in a sensible manner.