If you’ve found your dream home but your funds are tied up in investments or you’re waiting to sell your existing property, a deposit guarantee offers a convenient and cost-effective alternative to a cash deposit.
- Allows you to search for your new home and buy quickly without a cash deposit
- Short-term deposit guarantees are available for up to 6 months, which is useful if you don't have a deposit available for a property you've successfully bid for at auction
- Long-term deposit guarantees are available from 6 to 48 months, which is useful if you’re buying a property off the plan (one that hasn’t been built yet)
- Helps you keep your cash investments intact until settlement
For more details on how to apply for a deposit guarantee, make an appointment with a CommBank Home Lending Specialist online, call us on 13 2224 or visit your closest branch.
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We act as an agent for Vero Insurance Limited to provide Deposit Guarantees. Vero Insurance issues Deposit Guarantees under the registered trademark ‘Deposit Power’. We receive commission for each Deposit Guarantee we sell. You can only apply for a Deposit Guarantee after you have unconditional loan approval (only subject to valuation).