Deposit Power

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Deposit Power

Founded: 1989

Lender Type: Deposit Bonds

Owned by: Privately Owned

The leading provider of deposit guarantees for property purchases in Australia, Deposit Power is a dependable source of competitive Deposit Bonds. Theyve already helped more than 750,000 Australians secure a commercial or residential mortgage without having to tie up their savings. They also have an experienced team of staff to ensure a seamless experience. Deposit Power uses bonds issued by CBL Insurance LTD, New Zealands largest and most long-standing provider of credit surety.

Key Benefits

Competitive bond pricing
Simple, straightforward options
Good reputation

Drawbacks

Longest bond is for only 48 months
Need guarantor for first time homebuyers
Simplified options make some bonds less competitive

Lending Products

Lending Product Description

Short Term Deposit Guarantee

This Deposit Bond is good for 6 months, making it ideal for property purchases at auction, as well as standard private treaty purchases, also known as Offer & Acceptance. Youll need to demonstrate you have enough funds and a loan approval to cover the purchase price and deposit upon settlement. Deposit Power will then issue a bond for 10% of the purchase price or 10% of your maximum bid.

Long Term Deposit Guarantee

When you are purchasing a new build or when the property wont be ready for some time, the Long-Term Deposit Guarantee will guarantee your deposit for up to 48 months. For first time homebuyers purchasing an off-the-plan property, youll need a guarantor. Bond terms are available for up to 36 months.

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