Help, any solicitors or mortgage advisors out there. Need help with standard terms!

batley1 · 10 June 2006 at 5:16PM

:money: Due to various !!!! ups by our solicitors(who we've already given £200!), we were running the risk of losing our house that we've done a lot of work to try and get! However, the searches we are waiting for are due back on tuesday. So our solicitor has sent us a contract to sign on the proviso that what comes back from local authority matches it(which it should)then they will have everything they need and we can proceed as planned.......

However, a few questions for anyone who might know.....

Where can I find standard condition 6.8.2, or what is it? In the special conditions, it says to substitute ten for five. Is this refering to the deposit?

We let everyone know that we were giving a 5% deposit, however, it says they require a 10% deposit? Now the special condition above would explain this so doesthat all add up?

Bossyboots · 10 June 2006 at 5:51PM

Yes it does. Standard condition 6.8.2. will be a contractural 10% deposit. As you have agreed 5%, the special condition comes in to vary that condition. As the contracts are standard, 6.8.2. will always say 10% so has to be varied by a special condition according to what has been agreed. If 10% was to be the deposit, the special condition would not be included.