A Deposit Power Guarantee is used in place of the cash deposit between signing contracts and settlement of the property purchase. The Deposit Power Guarantee replaces the need for a 5% or 10% cash deposit when contracts are exchanged.

A Deposit Power Guarantee is ideally suited to those purchasers who do not have the required cash deposit, but do have the financial capacity to purchase the property. The product enables the purchaser to pay the full purchase price at settlement instead of paying a cash deposit upfront. For example, if you are buying for $500,000, you usually have to pay an initial deposit of 10% being the $50,000 with the remainder of $450,000 due at settlement. With a Deposit Power Guarantee, you only pay the fee for the Guarantee, in this case $650, and secure the title to the property at settlement by paying the full contract price of $500,000.

Deposit Power Guarantees can be issued for up to 10% of the purchase price on most types of property with settlement terms of up to 48 months.

1800 678 979

MAILING ADDRESS: GPO Box 2586 Sydney, NSW 2001. TRADING ADDRESS: Level 6, 309 George Street, Sydney, NSW 2000 Deposit Power is the registered Trademark of DP Bonds Pty Ltd.