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Bank Guarantee

Discussion in 'Finance & Banking' started by GregR, 8th Feb, 2014.

  1. GregR

    GregR Reid Consultants

    Joined:
    13th Jul, 2009
    Posts:
    273
    Location:
    Berwick Vic
    Has anyone any views on which lenders offer the better bank guarantee?
    This is in terms of set up, cost and ease to get it released.

    The use is for a deposit for an off the plan purchase which is supposed to settle 12 to 18 months.

    Deposit bonds are not prevalent in Victoria whereas a bank guarantee is the more normal form of deposit security used.

    Greg
     
  2. FMS

    FMS Perth Mortgage Broker

    Joined:
    8th Feb, 2014
    Posts:
    6
    Location:
    Perth
    St George and CBA would be you best bet as they grant approvals that last for 17 & 18 months respectively for OTP.

    A deposit bond over that time frame will be more expensive.
     
  3. GregR

    GregR Reid Consultants

    Joined:
    13th Jul, 2009
    Posts:
    273
    Location:
    Berwick Vic
    Colin,
    Appreciated

    Greg