Hi all, I'm in the process of selling and buying a house but unfortunately my house is taking a little longer to complete. I have reserved a new house (Abbey homes) and paid £500 but now they want a 10% deposit (new house is £180k). My house should complete in the next few weeks but Abbey have given me until 25th June to pay the deposit, which is extremely stressful for me because I haven't got that amount laying around. I also think 10% is a bit steep - my solicitor also agrees.
Does anyone know the going rate for deposit percentage? Also, the house hasn't even been built yet :(
Any advice greatly appreciated