FAQs

Downsizer.com connects purchasers with property developers. We allow purchasers with sufficient equity in their current dwelling to buy new property with no need for a cash deposit at exchange. Instead, a deposit bond is issued. When the purchaser pays the full purchase price at settlement, the bond automatically expires. To secure recovery of an actual or potential claim under the bond, a caveat may be placed on the purchaser's existing property.

The Downsizer Bond fee is paid for by the developer. A one off transaction fee of $1,500 is payable upon exchange by the purchaser. All other typical fees such as legal conveyancing and stamp duty on the new purchase are payable by the purchaser.

If you have reached the eligible age, you may be able to contribute up to $300,000 (each spouse) $600,000 (per couple) from the proceeds of the sale (or part sale) of your home into your superannuation fund. For more information please see the ATO site by clicking this link:

Deposit bonds are legally valid and available in all states and territories in Australia and widely accepted as a cash deposit substitute. Deposit Power-branded bonds have been issued in Australia, on behalf of insurers, for over 30 years and the product is very familiar and acceptable to estate agents, solicitors, conveyancers, and sellers (vendors).

Lombard Insurance Company Ltd (Lombard) is the issuer of the Deposit Power Downsizer Bond. Lombard is an international trade and commercial insurance provider, and has been providing insurance capacity to the Australian insurance market for over 10 years.

To ensure a local, timely, and independent claim process, Lombard has established a custodian fund with Perpetual Corporate Trust Ltd (Perpetual) to be used solely for the payment of deposit bond claims.

As Lombard's Authorised Manager, DP Bonds Pty Ltd is authorised to accept, assess, and instruct Perpetual to pay valid claims. Authorised staff at DP Bonds Pty Ltd have sole authority to instruct Perpetual to pay valid claims. Such authority to instruct Perpetual is made independently of and without reference to Lombard.

Downsizer.com is an authorised agent of DP Bonds Pty Ltd (ABN 390625 083 810). DP Bonds Pty Ltd is the Authorised Manager of the bond issuer, Lombard Insurance Company Ltd (RN 1990/001253/06), and processes and administers the bonds on its behalf. The payor of claims is Perpetual Corporate Trust Ltd (ABN 99 000 341 533).

A rebate of the bond fee may be considered in the event the new property settles before the sunset date and the original deposit bond certificate is returned to DP Bonds Pty Ltd with at least 6 months remaining before such sunset date. To qualify and apply for a rebate, the vendor must return the original deposit bond certificate with a covering letter from their solicitor confirming the date the property settled.

Should the purchaser default under the contract of sale, the developer may lodge a claim on the deposit bond for the deposit amount. The claim is assessed by DP Bonds Pty Ltd as Authorised Manager for Lombard, and if valid, payment is made to the vendor noted in the contract of sale through Perpetual Corporate Trust Ltd. DP Bonds Pty Ltd will then recover the deposit amount from the purchaser.

Downsizer.com connects purchasers with property developers. We allow purchasers with sufficient equity in their current dwelling to buy new property with no need for a cash deposit at exchange. Instead, a deposit bond is issued. When the purchaser pays the full purchase price at settlement, the bond automatically expires. To secure recovery of an actual or potential claim under the bond, a caveat may be placed on the purchaser's existing property.

The Downsizer Bond fee is paid for by the developer. A one off transaction fee of $1,500 is payable upon exchange by the purchaser. All other typical fees such as legal conveyancing and stamp duty on the new purchase are payable by the purchaser.

If you have reached the eligible age, you may be able to contribute up to $300,000 (each spouse) $600,000 (per couple) from the proceeds of the sale (or part sale) of your home into your superannuation fund. For more information please see the ATO site by clicking this link:

Deposit bonds are legally valid and available in all states and territories in Australia and widely accepted as a cash deposit substitute. Deposit Power-branded bonds have been issued in Australia, on behalf of insurers, for over 30 years and the product is very familiar and acceptable to estate agents, solicitors, conveyancers, and sellers (vendors).

Lombard Insurance Company Ltd (Lombard) is the issuer of the Deposit Power Downsizer Bond. Lombard is an international trade and commercial insurance provider, and has been providing insurance capacity to the Australian insurance market for over 10 years.

To ensure a local, timely, and independent claim process, Lombard has established a custodian fund with Perpetual Corporate Trust Ltd (Perpetual) to be used solely for the payment of deposit bond claims.

As Lombard's Authorised Manager, DP Bonds Pty Ltd is authorised to accept, assess, and instruct Perpetual to pay valid claims. Authorised staff at DP Bonds Pty Ltd have sole authority to instruct Perpetual to pay valid claims. Such authority to instruct Perpetual is made independently of and without reference to Lombard.

Downsizer.com is an authorised agent of DP Bonds Pty Ltd (ABN 390625 083 810). DP Bonds Pty Ltd is the Authorised Manager of the bond issuer, Lombard Insurance Company Ltd (RN 1990/001253/06), and processes and administers the bonds on its behalf. The payor of claims is Perpetual Corporate Trust Ltd (ABN 99 000 341 533).

Should the purchaser default under the contract of sale, the developer may lodge a claim on the deposit bond for the deposit amount. The claim is assessed by DP Bonds Pty Ltd as Authorised Manager for Lombard, and if valid, payment is made to the vendor noted in the contract of sale through Perpetual Corporate Trust Ltd. DP Bonds Pty Ltd will then recover the deposit amount from the purchaser.