A house deposit is essentially a down payment to the seller.  Much like a down payment guarantees the bank you’ll pay your mortgage, a house or home deposit is a guarantee you’ll buy from the seller.  


A house or home deposit is generally 5 - 10% of the value and a down payment is typically much more - up to 20%.


A key difference between the deposit and down payment is their purpose in securing the confidence of the seller and the mortgage lender, respectively, about your financial ability to own a home. While a deposit tells the seller that you are determined to purchase the property, a down payment tells the bank about your capability to handle the mortgage expenses.