You have finally found your dream home in a cute country village. The offer is in, the paperwork is done and the bank has indicated that you will have no problem getting a bond. Its all going very well...

Finally your bond approval arrives, but it is only for 90% of the value of the property. Now you need to find 10% deposit in cash which you just don't have. Before you give up on your dream, remember that there are other avenues to get a deposit. Here are a few ideas:

What can be used as a deposit?

1. A cash amount that a buyer can deposit with the conveyancing attorney;
2. Government State Guarantee;
3. Pension Backed Loan – This is a loan against your Pension Fund which can serve as a guarantee (Selected employers only – your bond originator will be able to tell you if you qualify);
   
   
4. Some Type Of Collateral Security for example:

• A Life Cover Policy with a surrender value (older than 2 years)
• A Fixed Deposit
• Surety with security (only through directly related family members).  Please note that as the buyer you will still need to be able to afford repayments on the loan and both buyer & surety have to qualify in their own regard.

Now sit back, relax and get ready for moving day.