Yes, paying a non-refundable deposit at the time of exchange is the norm. If you have a 95% mortgage I think, and I could be wrong here, the lender stumps up the remainder.
This is what happened to us when buying with Woolwich. We paid our 5%, they paid the other 5%.
@beseku started
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Yes, paying a non-refundable deposit at the time of exchange is the norm. If you have a 95% mortgage I think, and I could be wrong here, the lender stumps up the remainder.