Our focus is to help more people into the dream of home ownership, and out of the rental nightmare. Not currently renting? No worries! Even though we offer this program with renters in mind, anyone who wants to buy a home may still apply.

How does it work?

In short, we aim to help you buy a home without a cash deposit – and you won’t be punished by the mortgage lender for not having your own cash deposit.

We do this by providing a program which offers an alternative to the required upfront cash deposit using a “Deferred Deposit Agreement”.

What is a Deferred Deposit Agreement?

A Deferred Deposit Agreement is a legal contract which enables a seller – for example: a property developer – to help you satisfy the cash deposit requirement of mortgage lenders.

And you won’t be charged any application fees, mandate or interest charges for the deposit, under the Deferred Deposit Agreement!

The Deferred Deposit Agreement: –

  • Creates an ongoing agreement between the seller and buyer,
  • Enables a seller to then provide a deposit amount varying between 5%-25% of the property purchase price,
  • Enables a buyer to use this deposit agreement to assist in satisying the deposit requirements of mortgage lenders,
  • The buyer then pays back the deposit amount – typically over 5 to 10 years – with no application fees, mandate, or interest changes; and
  • The Deferred Deposit Agreement also provides both the seller and buyer with protections.

What do you typically need to be eligible?

  • Prove that you are able to service and manage your existing financial commitments comfortably,
  • Meet the mortgage lender serviceability requirements; and
  • If you are eligible for the First Home Buyers Grant, it is applied to reduce the mortgage loan.

Do you want to know more? Enquire Now on 1300 422 506 or info@newvisionfinancial.com.au and we will send you an Information Pack and explain the next steps! We look forward to helping you purchase your new home and assisting you in any way we can.

Enquire Now on 1300 422 506 or info@newvisionfinancial.com.au


Contact us today!