House deposit

[Comps83]

Looking at buying a new build which won't be ready til October
When we bought our current house we paid 5% deposit on exchange and the other 5% on completion
Everything I read says we have to pay the 10% on exchange so does it just depend on who you buy from?
Also , we are putting down a large 50% deposit this time. Do I pay this full deposit on exchange or just 10% and the rest on completion?
It's a lot of money to be sat in the solicitors bank account rather than ours if the house isn't ready for months

Generally deposit is 10% at exchange but you can agree to lower it you want but that's for agreement between the two parties. When you say 50% deposit you mean cash v mortgage. Other than the 10% you only pay the rest on completion.

Paying 50% of the new house in cash and 50% of it's worth with a mortgage
Also if we part ex when does that get taken into account? Does that come off the deposit?

Even if you have more than the 10% available just pay 10% on exchange and then the remainder on completion

If you are part exchanging your current property then all you will need to hand over to your solicitor for exchange is the difference between the 10% deposit being paid by the house builder for your property and the amount due on your new property (eg current home worth £275,000 deposit £27,500 new home £325,000 deposit due £32,500 difference payable £5,000).

Forgot to say there is a difference between the deposit payable and the percentage of the purchase price you are paying compared to the mortgage. The balance payable will be requested by your solicitor usually just before completion.