Saving for a Deposit Never HarderThe main one is that saving a big deposit is really tough amid a cost-of-living crisis and with rents remaining stubbornly high. It also means spending many years of saving which can get tedious, particularly if property prices happen to be rising quickly which simultaneously increases that deposit target. The first step is to investigate the two main programs set up by the Albanese government – the 5% Deposit Scheme and the Help to Buy Scheme – to see whether they can help you. As the name suggests, the 5% Deposit Scheme allows buyers to use a deposit as small as 5% of the property’s value and waives LMI. Top-up Deposit LoansAnother option for those with a small deposit that is offered by some lenders is a low deposit loan.