Why use Deposit Power Guarantees?
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Quick & Easy

Deposit Power can be organised either directly through Deposit Power or your lending institution. Most applications are processed within 24 hours.

The Deposit Power Guarantee terminates on settlement of the property, when the contract is terminated, rescinded or the expiry date has passed, whichever occurs first. It also terminates when a claim is paid by Vero Insurance Limited.

Alternative to Short Term Finance

For many people, short term finance is costly and time consuming involving additional application fees, high interest rates and delays in processing. Deposit Power can usually be arranged much quicker and for less cost than bridging finance loans.


Economical - one fee, no interest

The cost savings could be considerable. For example, the fee for a $30,000 Short Term Guarantee is $360. Short term finance may cost you $727 based on an application fee of $450 (often 1.5% of the borrowed amount), plus interest payable of $277 (assuming an 8% interest rate over six weeks).

By using a Deposit Power Guarantee, you have saved $367.

Flexible for Auctions

Deposit Power Guarantees are ideal for auctions. A Deposit Power Guarantee is issued prior to auction so that the purchaser can gain the vendor's acceptance of the Guarantee beforehand.

The property and vendor's particulars are left blank and the purchaser is authorised to complete these details if they are the successful bidders.

Guaranteed by Vero Insurance Limited

Deposit Power is secure because payment is guaranteed by Vero Insurance Limited. The Guarantee cannot be cancelled where it has been relied upon to sign a contract.