Deposit Bonds

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 or convenient 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.

 Would you like to learn more about Deposit Bonds?

Contact us on 0431 080 470 or info@speddingfinance.com.au or fill out our contact form and we will be in touch.