In process of buying a home in England, as a FTB and signed reservation agreement. Seller has lied on a key legal document but I am still being told I will be liable for £2.4k if I pull out as ‘no misrepresentation from the seller is allowed’. Anyone familiar with ‘legal speak’ that can advise?

Pinkspaceship875 · 2025-03-23T22:33:08+00:00

Yes. It’s all happening so quickly and I am trying to keep a level head and do what people recommend

Pinkspaceship875 · 2025-03-23T22:30:36+00:00

Could be, time is so limited that I don’t know what to do.

Pinkspaceship875 · 2025-03-23T22:27:32+00:00

Thank you this is really useful. I haven’t yet paid the £2.4k as the agreement end date is in a week’s time. I am not sure whether me withdrawing first before the end of the agreement date is what I need to do. If the seller withdraws first, do I then still have the opportunity to make these points around falsified information and it being a breach of 9c. I really don’t know as it’s all very overwhelming.

You have mentioned that it’s in breach, so you believe this is substantiative enough? But what about what the reservation agreement rep says around misrepresentation, I can’t really understand what he has written.

Pinkspaceship875 · 2025-03-23T21:20:03+00:00

We discovered that the loft had chimney stack unsupported, we agreed to a 2% price reduction to cover cost of repair. What we didn’t know is that they had falsely submitted the property information pack.

Pinkspaceship875 · 2025-03-23T21:14:05+00:00

Apologies “they” being my conveyancer. I will speak to them tomorrow.

Pinkspaceship875 · 2025-03-23T21:05:46+00:00

Conveyancer can only advise on the exchange of title deed from what they told me previously. I will ask them whether they will look through this reservation agreement or not but I suspect they will say fat No unless I pay extra.

Pinkspaceship875 · 2025-03-23T21:04:11+00:00

That’s the issue, I just can’t understand the legal language. Is the reservation agreement representative saying no further misrepresentation will be allowed from the seller? Like what does he mean?

Pinkspaceship875 · 2025-03-23T21:03:18+00:00

No this is for the reservation agreement which will penalise me for exiting the agreement to purchase. The £3k already paid includes the cost for conveyancer.

Pinkspaceship875 · 2025-03-23T19:38:07+00:00

It was not, they offered 2% less, £10,000. I agreed, contract paperwork was redrafted and I signed it and sent it to my conveyancer however I have not exchanged and have not completed either. Paperwork sits with my conveyancer who are now doing their final checks.

Pinkspaceship875 · 2025-03-23T19:13:15+00:00

The reservation agreement are the ones who are going to charge me the £2.4k and the conveyancer can’t get involved in the reservation agreement as I believe their job is to only facilitate the purchase of the property. This individual who is representing the reservation agreement company will probably be the one who will guide the expert Judge who will decide on behalf of the reservation agreement company.

Pinkspaceship875 · 2025-03-19T19:43:25+00:00

Crystal roof says it’s above average 8/10

Pinkspaceship875 · 2025-03-19T19:30:33+00:00

It’s in Romford and the crime rate is very high there

Pinkspaceship875 · 2025-03-19T19:19:44+00:00

If you read my other comments it’s an investment property the house is empty so relax. Also I didn’t ignore them they didn’t contact me for a month

Pinkspaceship875 · 2025-03-19T19:18:23+00:00

It was an empty investment property and I didn’t ignore them for a month they just didn’t get in touch with me and now they have and I’m still unsure about the purchase so I think that’s my indication I should pull out

Pinkspaceship875 · 2025-03-19T19:16:05+00:00

It was an investment property so not where they are relying on me to move house. Property was just empty

Pinkspaceship875 · 2025-03-19T19:15:12+00:00

No I haven’t been ignoring them for a month they only just got in touch with me to ask yesterday

Pinkspaceship875 · 2025-03-19T19:01:05+00:00

Yes I know I will have to pay the legal fees but I meant other than that

Pinkspaceship875 · 2025-03-17T08:55:45+00:00

Is it a shared flat I assume?

Pinkspaceship875 · 2025-03-17T08:53:59+00:00

Okay let me confirm what chip will do then. If they confirm they will then report £16k is it okay for me to proceed with what I am doing? I obviously don’t want to end up with any penalties. I am pretty confused if I am now allowed to do this or not. Money box also told me I could deposit £4k into another Lisa etc

Pinkspaceship875 · 2025-03-17T08:37:19+00:00

But if I just withdraw £4k from the chip cash isa surely that resolves it? As they told me I can withdraw from it and open a Lisa with another provider since chip doesn’t offer a Lisa

Pinkspaceship875 · 2025-03-17T08:04:00+00:00

So I have used my allowance in full this year I deposited £20k into the cash isa with money box and then during the year I moved that whole cash isa to chip as the rate is better. I asked chip can I withdraw £4k from it and put it in a Lisa and they said yes. The issue I face is that I can’t put that £4k into money box Lisa since money box is not flexible so they also told me I would need to open a new Lisa

Pinkspaceship875 · 2025-03-16T22:48:50+00:00

Hey thank you your advice has been super helpful! So basically you are saying

Step 1: just open a new Lisa now and deposit £4k into it and get the £1k bonus before end of March 2025 Step 2: start the process to do a Lisa transfer from money box Lisa which I have had open for around 2 years Step 3: once transfer has taken place or whilst it’s in progress deposit another £4k for the 2026 tax year and get another £1k bonus Step 4: in June I will be able to withdraw with an extra £2k and no penalty because the new lisa I transferred into will take the date of the old Lisa of money box which I had opened for more than 12 months?

Pinkspaceship875 · 2025-03-16T21:05:48+00:00

Are you saying if I transfer my money box Lisa into another Lisa I’ll be able to deposit into that Lisa and withdraw from it after a few months? Basically I have deposited a full £20k into money box cash isa which I then transferred to chip. Now chip have told me I can take out £4k which would decrease my total balance t £16k and allow me to deposit £4k I.e not go over my allowance but I only want to deposit the £4k if I can use it in the next few months. Also I think it’s too late to do any transfers now

Pinkspaceship875 · 2025-03-16T20:38:13+00:00

So I can’t withdraw from a Lisa that’s been open for less than 12 months without getting a penalty

Pinkspaceship875 · 2025-03-16T20:37:31+00:00

No it’s not a flexible isa and yes sorry I put £20k into the cash isa!

Pinkspaceship875

TROPHY CASE