{"id":2145,"date":"2022-02-23T13:56:05","date_gmt":"2022-02-23T03:56:05","guid":{"rendered":"http:\/\/103.250.212.193\/~mworksco\/?page_id=2145"},"modified":"2025-02-27T15:12:48","modified_gmt":"2025-02-27T05:12:48","slug":"deposit-bonds","status":"publish","type":"page","link":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/","title":{"rendered":"Deposit Bonds"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
<\/div>\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t
services<\/a><\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t

Deposit Bonds<\/span><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t

While we don\u2019t deal directly with deposit bonds, we have relationships with multiple providers that offer this service.<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Our brokers can assist you on how to approach the process of taking out a deposit bond, refer you to a pool of trusted firms and partners, and get you answers to all your questions.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\ttalk to us<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t

What is a deposit bond?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

A deposit bond\u2014also known as a deposit guarantee\u2014is a guarantee to the vendor that the purchaser will pay the deposit at settlement.<\/p>

For example, if you need to pay a 10% deposit when purchasing a home, but don\u2019t have that cash on hand, a deposit bond is a substitute for that cash.<\/p>

When the time to settle comes, the purchase price is paid in full, and the bond lapses.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t

Reasons to use a deposit bond<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

There are multiple reasons why some people choose to use a deposit bond instead of a cash payment.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\t1. You don\u2019t have the cash \t\t\t\t\t<\/span>\n\t\t\t\t<\/h5>\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\tYou may be taking out equity from an existing property in order to complete your purchase, and the equity might become available on the date of settlement for your new purchase - in this scenario a deposit bond can be used in the interim.\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\t2. You\u2019re simultaneously settling\t\t\t\t\t<\/span>\n\t\t\t\t<\/h5>\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\tMaybe you\u2019ve sold your current home and the funds from that sale are not yet available to you as a deposit to buy your new home. In this case, a deposit bond can help you out until those funds are available and you can pay it off.\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\t3. Convenience\t\t\t\t\t<\/span>\n\t\t\t\t<\/h5>\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\tDeposit bonds prevent the hassle of arranging deposit funds every time you\u2019re thinking of putting in an offer, removing the need for an equity release against your existing property which can be a time consuming process.\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\t4. You don\u2019t want to pay penalty fees\t\t\t\t\t<\/span>\n\t\t\t\t<\/h5>\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\tIf you break a fixed-term investment to obtain the cash for your deposit, you may very well be paying some hefty fees. A deposit bond avoids this by acting as a substitute for cash.\t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\n\t\t\t\t\t\t5. You can use it multiple times\t\t\t\t\t<\/span>\n\t\t\t\t<\/h5>\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\tWhen you secure a deposit bond, the amount is fixed, however the vendor and property details can be left blank for you to complete. This means, if you are a successful bidder at an auction, you can fill in the details then and there. \t\t\t\t\t<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t

How much do deposit bonds cost?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

If you have a short deposit bond (valid up to 6 months), you\u2019ll likely be paying around 1.3% of the deposit amount. Long term bonds, however, are assessed on a case by case basis as they can be valid for up to 48 months.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t

Do vendors accept deposit bonds?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

Accepting a deposit bond as a substitute for a cash deposit, is entirely up to the discretion of the vendor. Some are fine with accepting a deposit bond, while others may not accept it as they may need the cash from a deposit as a deposit for a loan of their own. Because a deposit is simply a guarantee, vendors cannot use the physical cash as they wish, until the settlement.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t

Interested in securing a deposit bond<\/span> ?<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\tget in touch<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

services Deposit Bonds While we don\u2019t deal directly with deposit bonds, we have relationships with multiple providers that offer this service. Our brokers can assist you on how to approach the process of taking out a deposit bond, refer you to a pool of trusted firms and partners, and get you answers to all your …<\/p>\n

Deposit Bonds<\/span> Read More »<\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"parent":558,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"class_list":["post-2145","page","type-page","status-publish","hentry"],"yoast_head":"\nDeposit Bonds - MortgageWorks<\/title>\n<meta name=\"description\" content=\"What is a deposit bond and how do you use it? We\u2019ve got the answers that will steer you in the right direction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deposit Bonds - MortgageWorks\" \/>\n<meta property=\"og:description\" content=\"What is a deposit bond and how do you use it? We\u2019ve got the answers that will steer you in the right direction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/\" \/>\n<meta property=\"og:site_name\" content=\"MortgageWorks\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T05:12:48+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/\",\"url\":\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/\",\"name\":\"Deposit Bonds - MortgageWorks\",\"isPartOf\":{\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/#website\"},\"datePublished\":\"2022-02-23T03:56:05+00:00\",\"dateModified\":\"2025-02-27T05:12:48+00:00\",\"description\":\"What is a deposit bond and how do you use it? We\u2019ve got the answers that will steer you in the right direction.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.mworks.com.au\/RSU\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Services\",\"item\":\"https:\/\/www.mworks.com.au\/RSU\/services\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Deposit Bonds\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/#website\",\"url\":\"https:\/\/www.mworks.com.au\/RSU\/\",\"name\":\"MortgageWorks\/RSU\",\"description\":\"Premier local mortgage broking firm servicing Sydney, NSW\",\"publisher\":{\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.mworks.com.au\/RSU\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-AU\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/#organization\",\"name\":\"MortgageWorks\/RSU\",\"url\":\"https:\/\/www.mworks.com.au\/RSU\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.mworks.com.au\/RSU\/wp-content\/uploads\/Mortgage-Works-Logo-Transparent_White.png\",\"contentUrl\":\"https:\/\/www.mworks.com.au\/RSU\/wp-content\/uploads\/Mortgage-Works-Logo-Transparent_White.png\",\"width\":2019,\"height\":553,\"caption\":\"MortgageWorks\/RSU\"},\"image\":{\"@id\":\"https:\/\/www.mworks.com.au\/RSU\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Deposit Bonds - MortgageWorks","description":"What is a deposit bond and how do you use it? We\u2019ve got the answers that will steer you in the right direction.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/","og_locale":"en_US","og_type":"article","og_title":"Deposit Bonds - MortgageWorks","og_description":"What is a deposit bond and how do you use it? We\u2019ve got the answers that will steer you in the right direction.","og_url":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/","og_site_name":"MortgageWorks","article_modified_time":"2025-02-27T05:12:48+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/","url":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/","name":"Deposit Bonds - MortgageWorks","isPartOf":{"@id":"https:\/\/www.mworks.com.au\/RSU\/#website"},"datePublished":"2022-02-23T03:56:05+00:00","dateModified":"2025-02-27T05:12:48+00:00","description":"What is a deposit bond and how do you use it? We\u2019ve got the answers that will steer you in the right direction.","breadcrumb":{"@id":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/#breadcrumb"},"inLanguage":"en-AU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.mworks.com.au\/RSU\/services\/deposit-bonds\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.mworks.com.au\/RSU\/"},{"@type":"ListItem","position":2,"name":"Services","item":"https:\/\/www.mworks.com.au\/RSU\/services\/"},{"@type":"ListItem","position":3,"name":"Deposit Bonds"}]},{"@type":"WebSite","@id":"https:\/\/www.mworks.com.au\/RSU\/#website","url":"https:\/\/www.mworks.com.au\/RSU\/","name":"MortgageWorks\/RSU","description":"Premier local mortgage broking firm servicing Sydney, NSW","publisher":{"@id":"https:\/\/www.mworks.com.au\/RSU\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.mworks.com.au\/RSU\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-AU"},{"@type":"Organization","@id":"https:\/\/www.mworks.com.au\/RSU\/#organization","name":"MortgageWorks\/RSU","url":"https:\/\/www.mworks.com.au\/RSU\/","logo":{"@type":"ImageObject","inLanguage":"en-AU","@id":"https:\/\/www.mworks.com.au\/RSU\/#\/schema\/logo\/image\/","url":"https:\/\/www.mworks.com.au\/RSU\/wp-content\/uploads\/Mortgage-Works-Logo-Transparent_White.png","contentUrl":"https:\/\/www.mworks.com.au\/RSU\/wp-content\/uploads\/Mortgage-Works-Logo-Transparent_White.png","width":2019,"height":553,"caption":"MortgageWorks\/RSU"},"image":{"@id":"https:\/\/www.mworks.com.au\/RSU\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/pages\/2145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/comments?post=2145"}],"version-history":[{"count":0,"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/pages\/2145\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/pages\/558"}],"wp:attachment":[{"href":"https:\/\/www.mworks.com.au\/RSU\/wp-json\/wp\/v2\/media?parent=2145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}