Austral's Deposit Bond Guarantee
Austral’s Deposit Power Guarantee (also known as Deposit Bond) is a fast, convenient and inexpensive way for you to arrange the 10% deposit when you sign contracts on your new property.
The deposit guarantee acts as a substitute for the cash deposit in between signing a contract and settlement of the property. At settlement, the purchaser is required to pay the full purchase price including the deposit.
This provides a low cost, flexible option if your money is tied up, but you will be able to pay the deposit at settlement time. It’s particularly useful at auctions.
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The deposit guarantee can be issued for all or part of the deposit amount required (up to 10% of the purchase price). You pay the vendor their deposit at settlement. In addition to satisfying the eligibility criteria, all that’s required for a Deposit Power Guarantee is proof of funds to complete the purchase, such as share certificates, the signed contract for the sale of an existing property or a loan approval. Normally a Deposit Power Guarantee will be issued within 24 hours.
Whether you are buying at auction or from a sale list, a Deposit Power Guarantee can be tailored to meet your needs.
Please Note: Deposit Bond Gurantees are only available to approved loan applicants with Austral Mortgage. |
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