The deposit is usually paid to the estate agent or transferring attorney, who manages it on your behalf. However, ooba Home Loans presents a better option in the form of Buyers Trust.
Buyers Trust, a subsidiary of ooba Home Loans, provides an alternative option for investing your deposit. This safe and secure service protects you from the risks of having your deposit phished. Buyers Trust creates a bank account with one of the major banks in your name, you transfer your deposit into that account, and Buyers Trust administers the account under a specific investment mandate provided by you. You can view the account at any time and receive statements, providing 100% transparency on your investment.
When signing the Offer to Purchase, select Buyer’s Trust as the financial service provider with whom you wish to invest your deposit. You’ll gain the advantage of an account in your own name with one of the major banks, a great rate of return on interest, transparency and high-level security.