Traditionally I think deposit bonds could only be obtained for full service loans. However talking to a few developers over the last week they are suggesting they can get and pay the premium for you on a deposit bond from GE for their off-the-plan developments up to 2 years out. These are premium developments in the revitalised areas of West End, Brissie, starting prices $500K plus. This appeals! Any brokers out there comments please.
Deposit bonds - lo/no docs
- Thread starter pmcintosh
- Start date
pmcintosh
GE offer 2 types of Deposit Bonds.
A short Bond < 6 months and a long Bond . 6 months.
To qualify for a Long Bond you are required to produce
1) Income Details
2) Asset ownership
3) Front page of Contract
4) Suitable ID
5) Application and Applic Fee
An Unconditional Loan approval is not required.
The developers you spoke to are correct as i have a client from NSW who has already bought one in the West End Development and we used GE for her Dep Bond.
Vero & QBE will also consider them
GE offer 2 types of Deposit Bonds.
A short Bond < 6 months and a long Bond . 6 months.
To qualify for a Long Bond you are required to produce
1) Income Details
2) Asset ownership
3) Front page of Contract
4) Suitable ID
5) Application and Applic Fee
An Unconditional Loan approval is not required.
The developers you spoke to are correct as i have a client from NSW who has already bought one in the West End Development and we used GE for her Dep Bond.
Vero & QBE will also consider them
