Zurich is extending its reach in the industry on the back of its new home warranty with a guaranteed deposit product aimed at speeding up the sales process. The “property deposit guarantee,”available through the XBond Company, is sold to the buyer for a fee on the basis of a six to 24-month low interest loan. Zurich will then issue the deposit amount to the homebuilder on completion. The scheme aims to bring buyers into the market who are struggling to come up with a deposit quickly, explained XBond md Nathan Cozens. <br><br>It has been launched at a time when tightening lending conditions are reducing the availability of no or low deposit mortgages. “The guarantee makes it easier to turn enquiries into reservations by removing one of the potential barriers to a sale,”said Cozens. “Instead of having to find the cash for their deposit straightaway, a client can buy the guarantee from Zurich, which can be approved within 48 hours. It costs a fraction of the deposit sum and prepares the client for exchange, allowing developers to reserve the property with confidence.” <br><br>Developers are protected by Zurich’s credit checks, and if the buyer fails to complete, the bank will pay the …