This is not insurance, but rather a form of financial instrument or guarantee which can represent your deposit until settlement when buying a residential property.
When purchasing a property, it is common practice to lodge a cash deposit of up to 10% of the purchase price with the vendor’s solicitor as security. For a small fee, an EquityBonds Residential Deposit Bond can be used in lieu of the cash deposit and guarantees the Vendor that you will pay your deposit on the day of settlement.
The Deposit Guarantee Bond can be used for all or part of the deposit required up to a maximum of 10% of the purchase price.
Residential Equity Bonds are offered for terms of 3 months - 5 years
Features & Benefits
Cash Flow When financing a deposit, Equity Bonds greatly improves cash flow, especially compared with expensive alternatives such as credit cards, lines of credit, personal loans or bank guarantees.
Convenience With an Equity Bond there is no need to borrow against an existing property to access equity or go through the laborious process of organising a bank guarantee. With an Equity Bond, the working capital will remain working.
Assessment Criteria Equity Bonds uses experienced assessors who understand client‘s business and financial needs. Meaning, the assessors are able to identify strong customers where others are not and hence, qualify for greater deposits.
Guarantors Equity Bonds accepts guarantors to assist qualifying when a client’s acceptable asset base is low.
Self Certification When electing to self certify income, bonds can be approved without the need for a client’s financials at no additional cost.
No need for Finance Approval Equity Bonds approvals are not restricted if a client’s finance has not yet been approved.
Cost Effective The efficient and innova tive patented structure of Equity Bonds allows them to be very competitively priced.
24 Hour Turnaround
Equity Bonds perform bond application assessments within 24hrs.
Higher Bond Amounts We approve bond amounts up to 25% of the customer’s acceptable asset base. This compares to our competitors standard, typically 15% – 20%.
Longer terms We specialise in long-term, Residential and Commercial Bonds:
Terms: 3 months – 5 years.
Tailored Solutions We can tailor bond amounts above $.5 million AUD (on application).
