Deposit Bonds aim to attract new buyers
- By: Cary Johnston
- On: 16/05/2008 19:17:33
- In: General
- Comments: 0
A new product has been launched aiming to provide a substitute for cash down payments or deposits, when purchasing off-plan property abroad, particularly in Australia.
It’s called a Deposit Bond, and is aimed at satisfying the vendor’s deposit requirements by the issue of what is essentially a deposit guarantee.
The idea is to reduce the amount a client needs to secure a property investment – typically just 1%-2% with a Bond, compared to 10%-20% with a cash deposit.
Investors who currently own property in the UK and Ireland are among those who are eligible for the Deposit Bond, which is of particular interest for Australian property investment.
The product is being promoted by New Zealand Property Solutions in conjunction with Deposit Alternative in the UK.
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