Deposit Guarantee

Deposit Power® - your deposit, guaranteed. Part of the Vero Group.

For more information
call 131 900

A Deposit Guarantee (also known as a Deposit Bond) is a guarantee that acts as a substitute for a cash deposit on the purchase of residential property between the signing of a contract and settlement. It is useful in situations where you have cash tied up in your current home or other investments and you require more time to covert your assets to cash. A Deposit Guarantee delays the payment of a deposit until the settlement date.

Why would you want to use a Deposit Guarantee?

It's quick and easy to arrange – only takes 24 hours to organise
It's economical – one flat fee, no interest charged
It's flexible for auctions – they are widely accepted

Who can apply for a Deposit Guarantee?

Deposit Guarantees are available to all Australian citizens and permanent residents. Those who will find a deposit guarantee useful include:

Existing property owners who wishes to purchase another property
Investors who wishes to expand their portfolio
First home buyer

Deposit Guarantees can be issued for up to 10% of the purchase price. Short term guarantees are available for settlement terms up to 6 months while long term guarantees are available for settlement terms over 6 months.

For more information, speak to a Westpac Home Loan Expert or call 131 900.

Got a question about Home Loans?

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