What does this mean if you’ve got less than 20% deposit?

You could still get a home loan with less than 20% deposit.  If you’re a first home buyer, consider applying for a Welcome Home Loan, where you don’t need a 20% deposit. If you’re not a first home buyer, contact us to discuss your deposit and we’ll see how we can help. 

What does loan-to-value (LVR) mean?

The amount you’re looking to borrow as a percentage of the property’s market value.

Want to switch your home loan to us?

If want to switch your home loan to us from another bank and the LVR is over 80%, but the loan value doesn’t increase, your application will be accepted, subject to our normal lending criteria.

If your loan has an LVR over 80%, it will attract an interest margin (applies to both variable and fixed rate loans). This interest margin will apply to your loan while the LVR remains over 80%. As you repay your loan and the LVR drops under 80%, the interest margin will no longer apply.

Buying or building your first home?

If you’re looking to buy your first home and have less than 20% deposit, consider a Welcome Home Loan. Or, if you’re building a new home you’ll live in, you won’t necessarily need a 20% deposit.

Find out about a Welcome Home Loan