The Webdeal No Deposit Home Loan is also known as the 100% home loan. It enables the applicant to borrow  the full purchase price without the normal deposit requirements of the traditional lending institutions. However the applicant will need to have own funds to cover settlement costs such as stamp duty on purchase etc.

This loan is ideal for anyone who has dreamed of entering the property market but for whatever reason, has not been able to save for a deposit. The 100% home loan is a fairly new product on the market. To qualify for such a loan the borrower must have a completely clean credit history and a strong income.

You will not require to show proof of savings, nor is there a reliance on any other equity or security which you may possess.

The target market for this loan product is generally:

• First Home Buyers on good incomes with no real savings;
• Persons re-establishing themselves after a relationship split up;
• High income investors seeking full debt leverage on a ‘stand-alone’ security property;