Resi's Deposit Power Guarantee
Getting together a deposit for a house is one of the first make-or-break steps to purchasing a property. This is where Resi can help.
If you are purchasing a house and you’re unable to provide a deposit, Resi’s Deposit Power Guarantee could be the perfect solution.
Resi’s Deposit Power Guarantee, allows you to exchange on a house without the worry and stress of coming up with the deposit yourself.
Deposit Power is a bond or guarantee which is legally accepted by vendors to form all or part of the deposit amount required for exchange, up to 10% of the purchase price. It is a guarantee or bond that substitutes for a cash deposit between signing contracts and settlements. At settlement the purchaser is required to pay the full purchase price including the deposit covered by the Deposit Power Bond.
For a small fixed fee, Deposit Power is a quick and relatively cheap way of obtaining short term finance for the purchase of a property. It has the flexibility of being used at auction as well as at standard sale, and can be valid for up to 36 months!
Here’s some of the features of Deposit Power:
- Can be approved and issued within 24 hours after submission of application
- Deposit Power can be used to pay up to 10% of the purchasing price of a house
- Can be used when purchasing a house through sale or auction
- Guarantees can be valid for up to 36 months
- It’s a cheaper alternative to short term high cost finance – it has just one fixed fee and no interest.
So if you want to find out more about Resi's Deposit Power Guarantee, just call 136 126 or visit your nearest Resi branch.