Why can’t I get a refund on my £500 deposit for a help-to-buy residence? | Cash

I paid a £500 deposit on a new-build flat utilizing the help-to-buy scheme. The event was imagined to be accomplished three months later, however 9 months on there was nonetheless no handover date, so I withdrew. However the agent, Claremont Property Group, says the deposit is non-refundable.

DE, Swindon

Completion delays can break the bank if a home sale is tied to a purchase order and patrons must fork out for rental lodging whereas they await their new keys. The Shopper Code for Residence Builders, which all builders who signal as much as assist to purchase are obliged to observe, requires deposits to be refunded if delays are unreasonable. This timescale will not be specified however over six months would usually qualify. Claremont Property Group doesn’t clarify why you have been refused, however confirms it has issued the £500.

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