Delay paying your deposit with a deposit bond
If you need a deposit for a property but your money isn’t immediately available, a Deposit Protect Bond (also known as a deposit bond) gives you a substitute for a cash deposit until settlement. It’s useful if you have cash tied up a term deposit, your current home or other investments and need more time to convert your assets to cash.
How a deposit bond can benefit you
- It's quick and easy to arrange
- It's economical – you only pay a one off fee
- It's flexible – you can use it at multiple auctions, purchasing land, residential or commercial properties.
Who can use a deposit bond?
- A property owner wanting to buy another property
- An investor wanting to expand their portfolio
- A first home buyer.
Who can apply for a deposit bond?
- Australian citizens
- Permanent residents.
Settlement terms
- A Deposit Protect Bond can be issued for up to 10% of the purchase price of your property
- Short term guarantees are available for settlement terms up to 6 months.
Contact us
Talk to a Westpac home loan expert on
131 900 for more details.
