Quick & Easy
You can apply for a Deposit Guarantee directly through Deposit Advantage by CLICKING HERE, or by contacting the Deposit Advantage Helpline on 0860 110 313. Most applications are processed within 24 hours, enabling you to enter quickly into an offer and acceptance on your new property.
More Affordable than Short Term Finance
Short term finance is a slow and costly process involving application fees and high interest rates. A Deposit Guarantee involves a once-off fee, which is significantly more affordable than accessing your bond or bridging finance.
Significant Savings
The table below shows how a buyer can save a significant amount of money by choosing the Deposit Guarantee option.
| |
3 month term |
6 month term |
12 month term |
24 month term |
36 month term |
| Bridging Finance1 |
12.14% |
24.28% |
48.55% |
48.55% pa |
48.55% pa |
| Access
Bond2 |
2.25% |
4.50% |
9.00% |
9.00% pa |
9.00% pa |
| Deposit
Advantage3 |
1.25% |
2.50% |
5.00% |
5.00% pa |
5.00% pa |
Notes:
1. Assuming an annualised interest rate of 48.55% p.a.
2. Assuming an annualised interest rate of 9.00% p.a.
3. Rates are subject to change without notice and excludes VAT.
The above table is produced by way of example only and Lombard Insurance Company Limited cannot be held liable for publication or for inaccuracies and recommends you seek independent advice in respect of rates and calculations.
Ideal for Auctions
The Deposit Guarantee is issued prior to the auction so that the buyer can gain the seller's acceptance of the Guarantee before the auction date.
The amount for which the Guarantee is issued is completed, the property and seller's details are left open and can be completed by the buyer if the bid is successful. Should the bid be unsuccessful, the buyer may use the Guarantee at further auctions, or return the orignal for a complete refund less an admin fee of R350.00
Guaranteed by Lombard Insurance Company Limited
A Deposit Guarantee is 100% secure. The full payment is guaranteed by Lombard Insurance Company Limited. The Guarantee cannot be cancelled where it has been relied upon to sign a sale agreement. |
