Aussie Bonds Australia was founded by a team of senior executives with years of experience in different financial sectors, including banking, insurance bonds, and financial analysis. They’ve forged a reputation for their professionalism and flexible approach to bond structuring. This allows them to make things work for a variety of customers. If you have cash tied up in other investments, want your money to earn interest while you wait for the settlement to occur, or simply don’t have enough of the deposit amount set aside right away, with Aussie Bonds, you can get up to 10% of the purchase price for essentially every property purchase scenario. All bonds are issued by QBE.
Bond terms up to 60 months (66 QLD)
Need a guarantor in most cases
Customer service not always available
Conservative application process
You can apply for the Established Property Deposit Bond if you are purchasing an existing property, either residential or commercial, or registered land. You can use this whether you have to finance already approved or not. You pay an upfront fee and then the full deposit upon settlement.
For customers who already have a property under contract and want to purchase a second or want to secure a different property first – such as if you are downsizing or moving to a new location – before selling your current property, you can apply for the Sell and Buy Bond. In this case, you could be transferring your existing loan, already approved for financing, or simply are expecting to use the cash you get from the sale of your current property to pay for the deposit.
Deposit Bonds are particularly useful for auction purchases. Aussie Bonds can issue you a Bond for 10% of the maximum price you plan on bidding on, giving you the freedom to take advantage of the right opportunity. If your purchase at auction is unsuccessful, you can return the bond and get a refund. This way you don’t have to tie up your finances for a ‘potential’ purchase.
A lot of investors opt for Deposit Bonds for off-the-plan purchases because of the time it can take for this type of property to settle. As long as you already own Australian real estate, you can apply. Off the Plan Deposit Bonds are typically issued for 60 months, although in some areas and for special products they can be used for longer.
Aussie Bonds’ First Home Buyer bond is for off-the-plan purchases of an apartment or registered land, for borrowers who don’t already own property. You do need a guarantor for this Deposit Bond – a family member who does own real estate in Australia.
When your SMSF or Bare Trust is purchasing either established or off-the-plan property, you can apply for the Super Fund Deposit Bond. Someone who is part of the SMSF who already owns a property, namely the Trustees or Directors, will need to act as a guarantor.
With a Trust, the process can become complex, and expensive due to legal costs. Aussie Deposits recommends having the trustees act as guarantor with their existing Australian real estate. You can apply for this Deposit Bond for both established and off-the-plan purchases.
For businesses, as long as there is a guarantor or the financial status of the company is strong enough, Aussie Bonds can issue a Deposit Bond for commercial property. You’ll pay a competitive fee and the flexibility to hold onto your company’s investments until your property is settled.