I Have Equity in my Home but no Cash for a Deposit – What can I do?
Don’t worry, not all is lost. Get in touch with your finance provider and discuss the possibility of a deposit bond. This is essentially a bank guarantee that you have the equity to cover the property deposit amount.
If you’re planning on using a deposit bond, it’s best to make the agent aware when you submit your offer. This gives them the full picture and a strong basis on whether to accept or request other means of funding.