Yes. You'll need a deposit in just the same way as you would for a standard home mortgage. The lender will be looking for a deposit that is at least 20% of the estimated final value of the completed house and land, otherwise you'll need to pay for Lender's Mortgage Insurance (LMI) or have a third party (e.g. a family member) acting as guarantor for your loan. If you already own outright the land on which the house is to be built, or have a large amount of equity in the land, you may be able to use the land value as your deposit, or part of your deposit.