Although you have the 10% deposit required to secure your purchase it may be in the form of shares that you have to sell, a term deposit that has not matured yet, in a bank account earning interest or you may want to utilise equity from existing property or other investments. You can leave your deposit where it is and for a premium that is lower than current bank interest rate earnings you can purchase a Deposit Bond.
Deposit Underwriters is a business name owned by Deposit Bond Australia Pty Ltd who are authorised agents of QBE Insurance (Australia) Limited. QBE's founding company was established in 1886 and has grown into an international insurance group operating from over 200 offices in 30 countries worldwide.
Deposit Underwriters is a business name owned by Deposit Bond Australia Pty Ltd who are authorised agents of QBE Insurance (Australia) Limited. QBE's founding company was established in 1886 and has grown into an international insurance group operating from over 200 offices in 30 countries worldwide.
Services
A Deposit Bond is used in lieu of cash for a deposit on the purchase of a property. The bond gives the Vendor security that can be converted to cash in the event the purchaser does not proceed with settlement of the property. The bond is NOT an insurance policy it is a form of Surety or Guarantee. The purchaser indemnifies QBE by way of an Indemnity.
