Deposit & Bonds

The term house deposit can be used to describe one of several types of deposits that a buyer or renter makes in order to secure housing for herself. If a person is buying a house, a house deposit usually signifies a down payment or a percentage of the home’s price that is paid up front and not included in the mortgage.

Many mortgage lenders require a house deposit or down payment before issuing a mortgage. Some mortgage programs, however, either do not require a down payment or require a very small down payment. The purpose of a house deposit in these instances is to offer some protection to the mortgage lender so that the house has some equity to compensate the mortgage lender in case of foreclosure.

Home buyers can sometimes receive grants to assist them in paying a house deposit. The mortgage lender may also have rules that permit the home buyer to borrow the house deposit from another source. Landlords are often hesitant to rent a home to a tenant without some kind of security deposit, particularly in places where tenants have significant protection against eviction. It is, however, illegal in the United States and other countries for a landlord to demand security deposits in a discriminatory manner, such as requiring parents of small children to pay an extra deposit. A landlord may be able to require a larger security deposit from tenants who have bad credit histories or who have pets that may cause damage to the unit above what a normal security deposit could cover.

Facebook Reviews

Page Conveyancing
5.0
Based on 36 reviews
powered by Facebook
Wendy Williams
Wendy Williams
2022-06-17T10:59:01+0000
This is the second time I have used James at Page Conveyancing and have found attention... to detail and communication excellent. I will certainly be using Page Conveyancing again in the future.👏👍read more
Marcelle Rafael
Marcelle Rafael
2022-05-20T03:28:43+0000
I have been dealing with. page Conveyancing more than once. We dealt with Marilyn Page,... James Page and Kim Shaw and found them very professional, helpful and always available at contact to happily answer any queries. We would like to extend our appreciation also to their efficient secretary Jodie.?we certainly would like to thank them and certainly recommend them to anyone who would like a legal procedure or advice purchasing or selling a property. Thank you again. Sam and Marcelle Rafaelread more
RM DK
RM DK
2022-05-02T01:57:51+0000
Great communication, Professional, understanding
Jackie McRae
Jackie McRae
2021-09-10T06:18:01+0000
My husband and I have used Page Conveyancing a couple of times for different house sales.... James Page is very professional approachable and very well mannered we have been very pleased with his approach to detail. We would highly recommend Page Conveyancing. Thankyou Colin & Jackie McRaeread more
Swell Deacon
Swell Deacon
2021-08-19T07:24:08+0000
Fantastic service by James. This is the second property he has assisted us with and he... keeps on improving. Well done. 10/10.read more

Page Conveyancing

DX Address

DX 7447, Port Macquarie NSW 2444

Postal

PO Box 1247, Port Macquarie NSW 2444