The Deposit: What’s it for? How do you Pay it? and Why ???

The deposit is a small initial contribution to the purchase price of a property, its like you've put it on lay-by. 

You don't actually own anything just yet.

You'll own the property on the agreed settlement date and that's when you may or may not be contributing other 'funds towards the purchase'.

Find out:

• How much the deposit will be.


• The various ways you can pay a deposit.


• Who holds the deposit.


• What happens if you don't come back to complete the purchase.

But lucky for you this gets explained in easy listening non jargon English.