When buying property, having a cash deposit ready isn’t always straightforward. Maybe you’ve found the perfect home, but your funds are tied up, or you’re waiting on financial support from family. This is where deposit bonds can make all the difference, and they’re not as complicated as they might seem. In this episode, Bella Minns from Deposit Assure joins us to explain what deposit bonds are and how they work. Think of it as a guarantee that lets you secure your property now, even if the cash deposit isn’t immediately available. Bella takes us through real-life scenarios where deposit bonds come in handy, from first home buyers to those dealing with longer settlement periods or off-the-plan purchases. We also explore the costs involved, common misconceptions, and how deposit bonds have become a practical and accepted tool in today’s market. Bella shares insights on why this approach could work for you, especially if you’re managing the timing of your finances. If you’ve ever been curious about deposit bonds or are looking for alternatives to a traditional cash deposit, this episode offers a straightforward guide to help you understand how they can work in your favour. Tune in to learn more! Episode Highlights: 00:00 - Introduction 02:14 - Who is Bella Minns? 02:44 - What is a deposit bond? 04:14 - How deposit bonds work 05:44 - Are deposit bonds suitable for everyone, or just specific buyer types? 06:51 - How much do deposit bonds cost and how are they paid for? 09:54 - How do developers respond to long-term deposit bonds, and is pushback common? 12:33 - What changes have taken place in the perception of deposit bonds over two decades? 14:19 - How do buyers secure a deposit bond, and what happens if QBE has to pay? 15:30 - Steps buyers must complete before they can receive a deposit bond 16:53 - Is there a maximum amount for coverage? 19:23 - Key benefits of using the deposit bond 19:54 - Does the one-day turnaround for a deposit bond include both application and approval? 21:10 - If you miss out on a property, can you reuse the deposit bond for another purchase? 23:03 - Potential drawbacks of using a deposit bond that buyers should be aware of 27:21 - Do buyers need to discuss deposit bonds with their broker first? 28:56 - Bella’s advice for first home buyers considering using deposit bonds 29:38 - What’s a key topic you’d like to be answered as a first home buyer? About Our Guest: Bella Minns is a recognized Business Development Manager at Deposit Assure, known for her expertise in deposit bonds and strategic property solutions. She has been acknowledged as one of the top Business Development Managers in NSW/ACT and frequently shares her knowledge through webinars and industry discussions. Bella plays a vital role in promoting innovative products like the FLEXI Deposit Bond, helping brokers, buyers, and developers navigate complex purchase scenarios with ease and confidence. Connect with Bella Minns: Website https://www.depositassure.com.au/LinkedIn https://au.linkedin.com/in/bella-minns-9b64881aa Resources: FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourseMeet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokersVisit our website https://www.homebuyeracademy.com.au/Join our Facebook Group to get access to free monthly live Q&A sessionshttps://www.facebook.com/groups/yourfirsthomebuyerguideaustraliaLearn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBGIf you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/Work with Meighan: https://www.linkedin.com/in/meighanwells/ If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421fSee omnystudio.com/listener for privacy information.
