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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Jan Babich
Jan Babich
2020-09-21T10:59:03+0000
Kim Shaw from Page Conveyancing handled my recent purchases in a professional, friendly... manner. I highly recommend Kim and Page Conveyancing to provide expert advice and a stress free service. Thank you Kim very much.Jan Babichread more
Kane Addison
Kane Addison
2020-08-28T05:59:08+0000
Page managed both my recent sale and purchase. I experienced nothing but professionalism... in both instances. Kim Shaw was fantastic to deal with and she ensured the entire engagement was managed effectively. I felt secure in the knowledge Kim was driving the process for me. Highly recommend!!read more
Sue Jogever
Sue Jogever
2020-08-18T09:46:40+0000
Thank you Page Conveyancing for making it happen so smoothly for both our clients sale... and purchase of their next dream home 🏡read more
Gerry Linhart
Gerry Linhart
2020-08-18T00:13:41+0000
I highly recommend Page Conveyancing. We have used these guys 3 times now and each time... it's been a hassle free, no bs experience. James knows what he is doing and communicates really well. ⭐⭐⭐⭐⭐read more
Graham Muffet
Graham Muffet
2020-07-27T09:37:44+0000
We used Page Conveyancing for the sale of our old home and the purchase of our new one.... As this can be a stressful time, James made us feel very comfortable throughout the whole process. James responded to our many questions and queries very promptly and professionally. I cannot speak highly enough of James and would highly recommend Page Conveyancing to anyone who would like to deal with a great team. Thank you so much.read more

Page Conveyancing

DX Address

DX 7447, Port Macquarie NSW 2444

Postal

PO Box 1247, Port Macquarie NSW 2444