With Deposit Power Guarantees you can offer your customers a complete solution. The Deposit Power Guarantee is a substitute for the cash deposit required when purchasing a residential property and can be issued for all or part of the deposit amount required, up to 10% of the purchase price. Your customers simply pay the full purchase price at settlement.
How to Arrange
Applications can be made by Accredited Agents via the online system. Alternately,if you are not an Accredited Agent, application forms can be downloaded, and submitted by fax on 1800 678 914 or email to depositpower@vero.com.au.
Short Term Guarantees
Short Term Guarantees – are available for purchases where the settlement terms are up to 6 months. Short term guarantees are issued subject to Deposit Power issuing guidelines. Purchasers need to provide evidence they have sufficient funds available to complete the purchase.
Long Term Guarantees
Long Term Guarantees – are available for purchases where the settlement terms are between six and 48 months. These can be arranged for applicants who own existing residential property and demonstrate the ability to complete the purchase.
Short Term Guarantees
Short Term Guarantees – are available for purchases where the settlement terms are up to 6 months. Short term guarantees are issued subject to Deposit Power issuing guidelines. Purchasers need to provide evidence they have sufficient funds available to complete the purchase.
Long Term Guarantees
Long Term Guarantees – are available for purchases where the settlement terms are between six and 48 months. These can be arranged for applicants who own existing residential property and demonstrate the ability to complete the purchase.
Refunds
Can my customer obtain a refund if they don’t use the Guarantee?
If you or your customer returns the unused, original Guarantee Certificate within 30 days of issue the fee will be partially refunded. An administration fee will be deducted and the balance will be mailed to you or, if directed, your customer.
If you or your customer returns the unused, original Guarantee Certificate within 30 days of issue the fee will be partially refunded. An administration fee will be deducted and the balance will be mailed to you or, if directed, your customer.
Deposit Power Helpline
If you have any questions about Deposit Power Guarantees or online verification just call us
1800 678 979
Our Helpline is avaliable from 8:30am to 7pm Monday - Friday.