Short answer：Default consequences depend on the contract and circumstances and may extend beyond a deposit. A commonly quoted percentage is not a universal liability cap.
Understand terms before committing
Review deposits, completion, possession, delay and default provisions, including agency fees. Refused financing, an unsold existing home or changed personal circumstances do not necessarily release obligations.
Act early when problems arise
Give the solicitor evidence and ask about extension, amendment or other remedies. Formalise agreements appropriately rather than relying on a telephone assurance or interpreting silence as consent.
Before deciding
- Allow funding and timing buffers
- Understand default provisions before signing
- Raise problems before the final payment date
Sources and method
Sources support the specific rules described. Checklists and hypothetical calculations are editorial explanations, not measured market results or individual approvals.
Revision：Removed unsupported experience, case outcomes and statistics; corrected the topic-specific rules and limitations described above.
Scope：General information only, not personalised legal, tax, immigration, admissions or investment advice.