Finance & Mortgage Specialists
With Deposit Power you can offer your customers a complete property finance 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.
Deposit Power offers short term guarantees to suit settlement terms of up to 6 months, and long term guarantees for settlement terms of between 6 and 48 months, which suits purchasers who are buying off the plan, under construction or land with extended settlements.
Arranging a Deposit Power Guarantee for your customer has never been easier with a range of market leading services including online approvals and express referrals.
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.
Deposit Power Advantage
Since establishment in 1989, Deposit Power has grown to become the experienced market leader in the deposit guarantee market and has assisted over 750,000 Australians to buy property
All Deposit Power Guarantees are issued by Vero Insurance Limited one of Australia’s largest and most successful intermediated general insurance companies.
Business Development Contacts
Becoming an agent
Refunds
Can my customer obtain a refund if they don’t use the Deposit Power Guarantee?
If you or your customer returns the unused, original Deposit Power 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.