What is a deposit bond?
When buying a property or land, you have to provide a cash deposit, normally up to 10% of the purchase price. This deposit is used to guarantee the commitment of the buyer to the contract of sale.
If you are looking to buy, but do not have ready access to the 10% cash deposit required, a deposit bond may be the solution you are looking for.
There are many reasons why you could benefit from a deposit bond:
✓ Borrowing 100% of the purchase price with the loan funds only available at settlement
✓ Purchasers who do not have the cash deposit when entering into a contract of sale
✓ Purchasers or investors who have their assets tied up in property and are cash poor
✓ Buying and selling simultaneously
✓ Your cash is working harder for you elsewhere, like your offset account and it can make financial sense to use a deposit bond instead.
Whatever the reason deposit bonds are a smart and viable alternative that can make it easier for you to purchase property or land when you do not have ready access to the 10% cash deposit required.
Want some help to see if a deposit bond is right for you?
Our deposit bond concierge team, will assess your situation and if a deposit bond is what you need, we will go ahead and take care of your application for you so you can focus on what you do best!
Our concierge officers, will guide you through the entire process, from start to finish.
Here’s how it works:
If you are unsure about whether you a eligible or require a deposit bond, our deposit bond concierge team will assess your situation and let you know either way!
Yes, I would like a concierge officer to call me.
Want to learn more about deposit bonds and how they work?
Below you will find a selection of some handy resources that will help you understand what deposit bonds are and how they work.
Watch our short video on ‘Everything You Need To Know About Deposit Bonds’
Watch our short video below, you will understand what deposit bonds are and how they can work for you.
[INFOGRAPHIC] – ‘Everything You Need To Know About Deposit Bonds’
Check out our infographic that has everything you need to know about deposit bonds and will answer all your questions. To view, please click on the image below, or click here. To download a PDF copy of our infographic please click here.
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Other relevant links you may be interested in:
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