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.

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Page Conveyancing
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Rhonda Shaw
Rhonda Shaw
2020-04-21T03:40:58+0000
Excellent service. Friendly and efficient. Kim was amazing! Highly recommended.
Matty Dobson
Matty Dobson
2020-04-17T19:56:09+0000
Amazing service, very responsive, could not recommend higher! James at Page Conveyancing... was a pleasure to deal with and very professional, he made our new house purchase contracts a breeze to go over and complete. Very knowledgeable highly recommended!read more
Tanya Lee
Tanya Lee
2020-04-07T10:33:54+0000
My husband and I have bought and sold property with Page Conveyancing.Merrillyn and Kim... were friendly and professional and made each process stress free.100% recommended:)read more
Paul McAsey
Paul McAsey
2020-04-01T03:13:03+0000
Kim from Page Conveyancing dealt with the sale of my apartment in Port Macquarie. She was... very efficient and easy to deal with. She dealt with the whole process and ironed out any bumps. As I live in Sydney, it was of utmost importance to trust and rely on Kim. She exceeded expectations. I would highly recommend Kim and Page Conveyancing.read more
Geoffrey Gillham
Geoffrey Gillham
2020-02-12T01:48:07+0000
Excellent service great communication explaining everything just very... efficient.Thoroughly recommend Page Conveyancing.read more

Page Conveyancing

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DX 7447, Port Macquarie NSW 2444

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PO Box 1247, Port Macquarie NSW 2444