How to qualify
We put you in the game by depositing the buying power into your hands. If you can afford the property, we’ll cover the deposit.
Short-term bonds
There are 2 ways to qualify for a deposit bond with a term of up to 6 months.
Short-term
Option 1
Funds to Complete Assessment Option
All you need to do is show us evidence that you will have the funds to complete the purchase such as:
- loan approval letter
- savings statement
- evidence of a financial gift
Short-term
Option 2
Home Equity Assessment Option
To qualify under this option, you must:
- own existing property with sufficient equity
- 1 x the deposit amount in equity for bonds of up to $150,000
- 2 x the deposit amount in equity for bonds over $150,000
Long-term bonds
To get a long term deposit bond with a term of up to 5.5 years, you must own existing property.
Long-term
Long-term bonds
Funds to Complete Assessment Option
To qualify, for a long-term bond you must have equity of:
- 3 x the 10% deposit amount for bonds from 7 - 24 months
- 4 x the 10% deposit amount for bonds from 25 - 36 months
- 5 x the 10% deposit amount for bonds from 37 - 66 months
How to apply
It’s common... you’ve seen the perfect place but you haven’t yet sold your house, or you don’t want to tie up cash or don’t quite have the full cash deposit. Don’t worry – here’s how to be ready to buy, regardless if you have the deposit:
It’s that simple.
1. Get a quote
Get a quote (2 mins) and apply online (under 10 mins). As long as you’re good for it, that’s good enough for us.
2. Receive digital approval
We send the unconditional approval to your phone. It’s valid for up to 6 months.
3. Pay the one-off fee
You pay the one-off fee (avg. $1,000*) when you need the deposit. And that’s all you pay. There’s no ongoing fees/interest.
What is a deposit bond?
Everything you need to know about deposit bonds.
What is a deposit bond?
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What is a deposit bond?
A deposit bond is a substitute for the cash deposit required when purchasing a property. The deposit bond can be for any amount up to 10% of the purchase price. At settlement, the purchaser simply pays the full purchase price of the property.
Why would I need a deposit bond?
Our deposit bonds are used in place of a standard cash deposit. Accepted, secure and so, so simple….
There are many reasons why you can benefit from using a Deposit Power bond:
- If your cash is tied up in other investments, you can use a deposit bond as a substitute to secure your property.
- When attending auctions, a deposit bond can be used to secure your purchase, you don’t need to have the cash ready at the time.
- A much better option compared to a slow, costly and cash backed bank guarantee.
- Fast – you can get your Deposit Power bond within seconds of the bond being issued.
- Save thousands! Where settlement is more than 6 months away, customers are far better off leaving their cash in either their home loan offset or in a high interest saving account.
- It’s safe! If the development is not completed your cash is not at risk.
- Secure and trusted – Deposit Power bonds are A+ rated, secure, trusted and widely accepted.
How can I apply for a deposit bond?
Applicants can either apply directly on this website or through an accredited Deposit Power mortgage broker, conveyancer, lender or finance specialist.
How quickly can I get a deposit bond?
Simply submit your application online and you will get an immediate response. Our deposit bonds are digital and delivered to you within seconds of being issued.
What is the fee for a deposit bond?
Deposit Power charges a one-off fee to issue the deposit bond. There are no other fees or ongoing charges involved.
The fee for a short-term deposit bond (with a term of up to 6 months), is calculated as a percentage of the deposit bond amount. Fees for long-term deposit bonds are based on the deposit bond amount and term required.
You can get a fee quote by clicking on the “Get a quote” button on this website.