What's the Difference Between a Mortgage Deposit and a Vendor Deposit? Do I Need to Pay Both? | Ep. 315
- Author
- Opes Partners
- Published
- Wed 22 Jul 2020
- Episode Link
- https://podcasters.spotify.com/pod/show/propertyacademy/episodes/Whats-the-Difference-Between-a-Mortgage-Deposit-and-a-Vendor-Deposit--Do-I-Need-to-Pay-Both---Ep--315-eh00v8
In this episode, we discuss the difference between a mortgage deposit and the deposit that is to be paid to a vendor ... and whether you need to pay both.
In short, there is no double-up of deposit. The deposit you pay to your vendor makes up the deposit you use for your mortgage. In this case they are the same but for different purposes.
We also mention JUNO magazine's upcoming property issue, which will be released mid-August. We currently have a special running, which is an annual subscription of 4 magazines for $20. Click here to subscribe to the magazine.
