DEPOSIT BONDS ARE A SUBSTITUTE FOR NOT HAVING THE 10% CASH DEPOSIT UPFRONT (Australia : www.howtomortgage.com.au)

Now you do not ought to bear the time consuming exercise of selling assets or reorganising your finances to induce the deposit for the acquisition of a property. that is as a result of a deposit bond will act as a money deposit between signing the contract of sale and settlement of the property. However, on applying you want to prove you'll have the funds out there to pay the deposit at the time of settlement.
This deposit bond is issued for all or a part of the deposit quantity needed, up to 100% of the acquisition value. It's helpful for asset rich/cash poor customers and it's convenient for 1st home patrons who could have assets pledged in alternative investments.
It's fast and easy: you come back a completed and signed double sided application type to us and also the deposit bond are issued at intervals forty eight hours to you, us and also the vendor's realty agent from an insurer like Vero.
It's flexible:                  Deposit bonds is used for personal treaty and auction purchases. see the seller of the auctioned property if they're going to settle for a deposit bond rather than money or a cheque before you begin bidding.
It's price effective:     It solely prices a {1} off flat fee of 1.2% of the deposit quantity. for instance, if you were shopping for a $400,000 home and need an upfront 100% deposit of $40,000 then applying for a deposit bond would solely price you $480.