Easy home buying without a cash deposit.
Use a Deposit Bond.
Cash tied up in investments?
A Deposit Bond could save you time and money for your next property purchase.
How a Deposit Bond Works for Downsizers
Don’t hand over your cash for your 10% cash deposit.
There’s a more convenient way.
A Deposit Bond is a substitute for the cash deposit when purchasing a property.
Instead of the buyer paying a 10% cash deposit, a Deposit Bond is used as an alternative.
Let's paint a brighter picture
Imagine purchasing your dream property ‘off the plan’ for $2,000,000 with an anticipated settlement in 12 months.
Normally, you’d pay a hefty $200,000 upfront.
But with a Deposit Bond, you get to keep this precious cash in your hands.
It’s not just about convenience; it’s about the freedom to keep your funds where you need them most.
Real Savings
Let’s take this same example and look at the savings you could generate from using a Deposit Bond.
If you had to borrow a $200,000 deposit secured against the equity in your home, at an average current interest rate of 6.5%, it would cost you $13,000 in interest over 12 months.
The cost of a deposit bond would be closer to $6,000 for the same 12 month period.
Now that is a real saving!
And there is no need to put up your current home as security.
Graham & Joy's Story
Graham and Joy were looking to downsize from their free standing home on 1,200 square meters in Dural, NSW.
The maintenance was getting too much for Graham, and whilst they both enjoyed gardening, they wanted a simpler life and to realise some of the equity in their current home to enjoy some well earned five star trips abroad.
They ended up choosing an off the plan apartment in Annandale in Sydney’s inner west.
Whilst the settlement was two years away, they had to pay a 10% deposit now.
With all their money tied up in superannuation and equity in their current home, an ENAYBL deposit bond provided a quick and cost effective solution.
As Graham said, “without ENAYBL Deposit Solutions, we’re not sure how we would have secured our dream apartment.”
Stefano and Maria's Story
Stefano and Maria were looking to downsize from their home they had lived in for over 4o years.
Their children now had kids of their own and the 860 square meter property was starting to take its toll on Stefano.
They attended an display suite for a new project and fell in love with an apartment overlooking the water.
“They property was perfect in every way and we wanted an extended settlement so buying off the plan made sense to enable us to organise ourselves over the next 18 months. We wanted to commit on the spot but soon realised we didn’t have any cash at hand to take the next step.” Stefano said.
“That’s where ENAYBL provided a great solution. We applied on Monday and our deposit bond was approved and issued so quickly that we exchanged contracts on Wednesday. It was so simple and stress free” Maria confirmed.
Paying a traditional cash deposit can limit your financial choices. We give you the power to keep your money working where it’s needed.
Traditional deposits can slow you down with lengthy processes. We’re here to expedite your journey to downsizing.
Traditional deposits may come with hidden expenses. We’re transparent and cost-effective from the start.
Speak to Our Experts
Find out how a Deposit Bond could help your next property purchase? Speak to one of our friendly experts to get a personalised understanding of how a Deposit Bond may save you money and flexibility in your next property.