Finance, whatever sort of finance you need, ACE Lending Solutions is ready to help. Whether it is a Personal Loan, Home Loan, Investment Loan, Construction Loan, Commercial Loans, Leases or Hire Purchase, Equipment finance – we are resourced to be able to assist you.
When it comes to choosing a finance provider, we work with you to plan ahead. ACE Lending Solutions staff specialise in talking with you about your future plans and finding a loan that will fit in with your plans for your future.
Whether you are buying your first home, investing in property for the short term or long term, your loan should be able to fit your lifestyle.
We also strongly suggest that you have your finance pre-approved before purchasing a house or a new business/premises. To get a pre-approval will give you the confidence that the price you are looking to offer will be supported by a lender and give you an edge in a negotiating situation.
Whatever queries you have in relation to obtaining a loan, give us a call ....
Deposit Bonds:
In Australia when a person or entity enters into a contract to purchase residential property, it is common practice for the purchaser to lodge a cash deposit of up to 10% of the purchase price with the vendor's solicitor as security for the purchaser's obligations. The deposit gives the vendor (the seller) a fund against which they can claim if you fail to complete the transaction.
A Deposit Bond is an instrument that, by agreement with the vendor, can replace the need for a cash deposit. It is a convenient way of purchasing a property without the need to arrange a large cash deposit or immediately cashing in or selling an investment that may mature at some point in the future. The Deposit Bond is issued by an insurer to the vendor for all or part of the deposit required.
If the purchaser fails to complete the purchase of the property and has used a Deposit Bond, the vendor or the holder of the Deposit Bond has the right to present the Deposit Bond to the Insurer and claim the full amount of the Deposit Bond. The Insurer will then seek reimbursement from the purchaser for any monies paid by it plus any other costs and expenses.
In essence, a Deposit Bond enables the purchaser to defer until settlement of their 10% deposit.
A Deposit Bond is NOT a policy of insurance. It is a form of surety or guarantee.
 
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