There are 2 ways to qualify for a deposit bond with a term of up to 6 months.
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 aproval letter
evidence of a financial gift
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
Please note, each application is considered on it’s own merits and the above table should be used as a guide only.
To get a long term deposit bond with a term of up to 5.5 years, you must own existing property.