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The deposit bond lender has partnered with Finsure to support buyers to navigate a “complex” property market.
Aggregator Finsure Group has announced that deposit bond specialist Deposit Assure has joined its lending panel.
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According to Finsure’s head of asset and diversification Damien Thompson, Deposit Assure’s deposit bond products allow buyers to purchase and secure their home faster before house prices “spiral out of control”.
Finsure members now have access to the deposit bond provider’s FLEXI deposit bond, following Deposit Assure’s partnership with Purple Circle in December 2023.
The bond, which has instant issuance, enables home buyers to obtain pre-approved deposit bonds of up to 10 per cent of their maximum intended purchase price at no upfront cost.
These are valid for six months and are underwritten by QBE Insurance (Australia) Limited.
Thompson commented: “Given the current landscape of increasing interest rates and a limited housing supply nationwide, it’s essential to offer our members the tools that simplify transactions for both buyers and sellers.
“This is what has made Finsure partnering with Deposit Assure so appealing. They understand the opportunity their deposit bonds offer home buyers, but also how it can enable mortgage brokers to expand their customer base and help more Australians.
“We also were impressed by their amazing support for the partners and customers. You can’t fake a five-star rating on Trustpilot, especially with more than 2,100 reviews.”
Etienne Rizzo, co-founder and chief executive of Deposit Assure, said: “One of the biggest challenges that home buyers are facing is needing to sell before they buy, meaning they may face the real possibility of not having a cash deposit to be able to secure their dream home.
“To help buyers get ‘purchase ready’, to help secure their new home, Finsure members now have access to our FLEXI deposit bond, with instant issuance.
“This means that potential buyers can now obtain pre-approved deposit bonds of up to 10 per cent of their maximum intended purchase price immediately, at no upfront cost, allowing them to make quick decisions and secure their properties on the spot.
“Through this partnership, Finsure’s members gain the confidence to seamlessly navigate today’s real estate challenges.
“By streamlining processes, we empower them to focus on their core strengths – helping clients achieve property success.”
Since September last year, the aggregator has partnered with the financial advice arm of AIA Australia, AIA Financial Wellbeing; bridging loan specialist Funding.com.au; and debt consolidation lender Salt&Lime.
[Related: Purple Circle partners with deposit bond provider]
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