What
are Deposit Bonds?
A Deposit Bond acts as a substitute for the 10%
cash deposit you’re required to pay when
purchasing a property.
In simple terms, outlaying cash for a deposit
can be complicated or even impractical if your
funds are already tied up in an existing property
or other investments. By using a deposit bond,
you don’t have to miss out on a great opportunity,
just because your money isn’t readily accessible.
The Cost Effective Choice
A deposit Bond ensures that your money is left
working for you. By using a Deposit Bond you no
longer need to sell your shares, close you term
deposit and lose interest, or wait to sell your
present property to get the deposit you need to
purchase.
If your buying ‘off-the-plan’, completion
may be over a year away so why tie up your money?
A small one-off cost is all you’ll you need
to pay – much less than the interest you
could be earning on your cash, even if you left
it in a low-interest bank savings account.
Compare these funding methods
against a Deposit Bond:
Cash – CMT:
Deposit Bond saves you up to 41.22%
Mortgage Redraw: Deposit Bond saves you
up to 102.74%
Personal Loan: Deposit Bond saves you up to
301.07%
At Money street, we can arrange a Deposit Bond to
substitute your 10% cash deposit in under 48 hours
(terms & conditions
apply).
So if your buying off the plan or about to go to
auction let Money St arrange a deposit bond for you.
