A guar­an­tee in lieu of the cash de­posit

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CASH COW De­posit Ad­van­tage, part of the Lom­bard In­surance Group, is­sues a guar­an­tee in lieu of the cash de­posit re­quired in a prop­erty trans­ac­tion. “This means that prop­erty can now be pur­chased, whether res­i­den­tial, com­mer­cial or pur­chas­ing off-plan in a de­vel­op­ment, with­out hav­ing to part with cash un­til trans­fer,” says na­tional mar­ket­ing man­ager Paul Marais. “Chal­leng­ing eco­nomic con­di­tions dur­ing the global fi­nan­cial cri­sis, had prop­erty play­ers look­ing for cost­ef­fec­tive so­lu­tions. Our prod­uct has proved to be part of that so­lu­tion. It makes more sense to use a guar­an­tee in lieu of cash, par­tic­u­larly when cash is tied up in in­vest­ment cap­i­tal, stocks and shares or as an ac­cess fa­cil­ity on an ex­ist­ing mort­gage. Arthur Case, Gen­eral Man­ager for the Amdec Prop­erty Group, says: “ Be­ing less re­liant on tra­di­tional cash de­posits to se­cure a pur­chase in a new de­vel­op­ment means that more suc­cess­ful trans­ac­tions can be con­firmed sooner, thereby as­sist­ing the de­vel­oper to achieve a higher rate of sale. Amdec has of­fered this guar­an­tee prod­uct to res­i­den­tial pur­chasers, en­abling them to pur­chase a new home with­out hav­ing to wait for the pro­ceeds of an­other prop­erty sale.”

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