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Jamie-Law
Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 13772
Experience:  Solicitor
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14 days ago I put a £5000 deposit down for a flat- I was

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14 days ago I put a £5000 deposit down for a flat- I was told under consumer law this was refundable under a cooling period. However, since I’m unable to obtain a reasonable interest rate mortgage I want my deposit back. However the property developers are refusing? What are my options
Assistant: Where are you? It matters because laws vary by location.
Customer: England
Assistant: What steps have you taken so far?
Customer: I called the citizens advice bureau - and they have confirmed that I’m not covered by the consumer act 2015 as its a property purchase
Assistant: Anything else you want the Lawyer to know before I connect you?
Customer: Yes, I signed a deposit form, however was told over the phone that there would be no problem getting my deposit back as ‘we are a professional company’- as a first time buyer I trusted them.

Hi thank you for your message, who told you about the deposit?

Customer: replied 5 days ago.
It was the property agent- who is working with the developer- the deposit contributes towards the total value 100K of the property
Customer: replied 5 days ago.
They said it was a holding deposits
Customer: replied 5 days ago.
Are you a solicitor that specialises in property?

Hi thank you for your message, I am afraid I shall opt out as I do not feel I can adequately respond to your query.

Hello my name is Jamie and I will help you with this.

You mean to buy?

Customer: replied 5 days ago.
Hi are you able to advise on a uk property predicament

Yes. I assume you put a deposit down and changed your mind?

Customer: replied 5 days ago.
I was told to put the deposit down to stop it been taken off the market- and on the basis of been able to obtain a reasonable mortgage- which I have not been able to do
Customer: replied 5 days ago.
I did find a lender however the developers were not on their approved list
Customer: replied 5 days ago.
I’m a first time buyer and contractor which, now I’ve come to find out, instantly reduces the lender pool
Customer: replied 5 days ago.
Although I was told there would be no problem- afraid I’ve fallen victim to 1st buyer sales tactics

Are you asking whether it falls under Consumer law?

Customer: replied 5 days ago.
I’ve been told it doesn’t, if that’s correct want to explore my options?

You can try and sue for it back. I can tell you how to do that.

But it most certainly is excluded from consumer law.

Customer: replied 5 days ago.
Ok that confirms the bad news- so I was lied to
Customer: replied 5 days ago.
Yes please can you tell me how to sue

You need to write a letter, set out your losses and request a refund within 30 days or say you will go to Court. This is called a pre-action protocol letter of claim. You should make sure you send this signed delivery and keep a copy. You must give 30 days warning before going to Court.

If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 https://www.gov.uk/government/publications/form-n1-claim-form-cpr-part-7 and take it to your local County Court.

The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.

If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value, you would need representation for trial.

Can I clarify anything for you about this today, please?

If not, I would appreciate a 5-star rating for my answer, by clicking the button at the top of the screen. I am not paid for my time unless you rate. If you need anything further I am available for a follow up at no extra cost.

Customer: replied 5 days ago.
Thanks, yes definitely 5 stars.
Customer: replied 5 days ago.
What would be the basis of my argument in court though- is there any law that requires them to return my deposit
Customer: replied 5 days ago.
Just trying to understand what the challenge would be?

Well, it would be what is reasonable.

That is the only point you have really.

Does that clarify?

Customer: replied 5 days ago.
Would that type of reasoning hold up in a court though- the reason I asked is because surely it’s reasonable for the property developer to refund my deposit- however they refuse.

That is the question. One Judge may say one thing, another Judge another.

Its subjective and that is the risk of litigation

Does that assist?

Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 13772
Experience: Solicitor
Jamie-Law and other Law Specialists are ready to help you
Customer: replied 5 days ago.
Thanks for your help

Pleasure