Having established the maximum loan available, you can then confidently bid at auction, or make an offer on a property without worrying that the Lender may later decline your loan.

Ask our consultants about Deposit Power Bonds- the alternative to providing a 10% deposit at the auction.

Why use a Deposit Power Bond ?

Like many property owners today, most of your cash is probably tied up in your present home. Trying to find the 10% deposit to enter into a contract on another property can mean a short term bank loan or borrowing from a finance company. Regardless of where you obtain the finance, it will be a costly and time consuming exercise.

A Deposit Power Bond can be less expensive and is usually issued within 24 hours.

It is difficult to organize a cash deposit before an auction sale, particularly when you are not sure your bid will be successful. The Bond can be issued before you get on the auction sale "roundabout".

The Bond amount is fixed but not the details of the property, so you can attend a number of auctions. You simply complete the details of the vendor and property if you are the successful bidder.