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Homebuyers offered cash deposit deal
04/01/2008
South Manchester property buyers can now take advantage of a financial guarantee that replaces the usual cash deposit.
Bennett Property will be offering the Exchange Bond deal to buyers of new homes at its Southpoint development in Manchester.
Southpoint, on the outskirts of Didsbury, comprises 40 one and two-bedroom open-plan apartments.
Alan Hegarty, director of Bennett Property, said: "The Exchange Bond offers benefits to us as a developer as well as to our buyers.
"We are really interested to see what impact it has on our sales at Southpoint and our buyers' response to it."
The deal is administered through Exchange Insurance Company which pledges that homebuyers only pay the deposit once the sale is completed. 
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