| Quick Links | Kent SolicitorsLatest legal news from Kent Solicitors, Kaslers Solicitors LLP.Wednesday, 26 August 2009Deposit Forfeiture
A buyer usually forfeits his deposit if he fails to complete a land purchase - this is not regarded as an unenforceable penalty
The court does have power to order the repayment but it will only do so in exceptional circumstances The amount of money does not make a case exceptional - a recent case involved a 400k pounds deposit on a 4m pounds transaction The fact that the seller later sells at a better price is irrelevant Failing to get or renew a mortgage offer is not sufficient. Contact: Simon M. Scott (Solicitor, Partner) Mobile: 07979 916619 email: ss@kaslers.co.uk Labels: mortgage offer, unenforceable penalty # posted by michael @ 09:00
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We are regulated by the Solicitors Regulation Authority (Reg No 408936).
The LLP Members are Michael D Breeze LL.B (Hons) (SRA Reg No 110184) and Simon McCree Scott LL.B (Hons) (SRA Reg No 298202)
Registered office and main trading address: Suite 3, 10 Churchill Square, Kings Hill, West Malling, Kent ME19 4YU
Tel: +44 (0)845 270 2511 Fax: +44 (0)845 270 2513 Mobile: 07 900 195 195 DX 92863 West Malling