Bank Guarantee

Discussion in 'Finance & Banking' started by GregReid, 8th Feb, 2014.

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  1. GregReid

    GregReid Well-Known Member

    Joined:
    13th Jul, 2009
    Posts:
    252
    Location:
    Melbourne
    Has anyone any views on which lenders offer the better bank guarantee?
    This is in terms of set up, cost and ease to get it released.

    The use is for a deposit for an off the plan purchase which is supposed to settle 12 to 18 months.

    Deposit bonds are not prevalent in Victoria whereas a bank guarantee is the more normal form of deposit security used.

    Greg
     
  2. Colin Rice

    Colin Rice Well-Known Member

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    8th Feb, 2014
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    Location:
    Perth
    St George and CBA would be you best bet as they grant approvals that last for 17 & 18 months respectively for OTP.

    A deposit bond over that time frame will be more expensive.
     
  3. GregReid

    GregReid Well-Known Member

    Joined:
    13th Jul, 2009
    Posts:
    252
    Location:
    Melbourne
    Colin,
    Appreciated

    Greg