PRDnationwide Newcastle and Lake Macquarie are proud to be exclusive agents in this region for Deposit Bonds from Deposit Power.
A Deposit Power Deposit Bond acts as a substitute for the cash deposit required by the purchaser between signing a contract of sale and settlement on a property.
That means you can secure a property while preserving your cash in a term deposit while avoiding expensive break fees.
They are also a handy option for those people who may need to sell other assets such as shares to come up with the deposit in a timely manner. Deposit Bonds are also popular for purchasers buying off-the-plan where settlement may be some months away.
It acts as a guarantee of the deposit payment. At settlement the purchaser simply pays the full purchase price including the deposit.
Deposit Bonds can sometimes be referred to as a Deposit Guarantee.
Deposit Guarantees are widely accepted and trusted throughout Australia as a means of securing a property purchase. In fact, Deposit Power has helped more than 750,000 Australian's purchase property. Deposit guarantees are legal in every state and territory across Australia.
A Deposit Guarantee can be issued for all or part of the deposit amount required, up to 10% of the purchase price.
If you are purchasing a property off the plan, or are considering the use of bridging finance while waiting for another property to sell, then consider instead a Deposit Power Deposit Bond.
Ask any of our agents for a free quote today.