Deposit Power offers a range of solutions for prospective first home buyers looking to enter the property market. Often the seller will require a 10% deposit to secure the property and this can be an issue for many first home buyers who are borrowing more than 90% of the purchase price and have other purchase expenses to pay before settlement. Deposit Power Guarantees can solve this problem and are available to assist with your deposit requirements whether you intend to make an offer on an established home, attend an auction, buy vacant land or a house/land package or even buy off the plan.
Deposit Guarantees can be issued for any amount, up to 10% of the purchase price and are often used by first home buyers to “top up” their own cash deposit to secure the property.
Deposit Guarantees can also be used in conjunction with family pledge loans or where a relative is providing a gift to assist with your purchase.
To find out more about our First Home Buyer products, contact our Helpline on 1800 678 979 or register your interest on our website link to receive further information.