Deposit on exchange of contracts

[oncemoreuntothebeachdearfriends]

I exchanged on 30/09, buying a more expensive property.
I accepted 5% deposit from my buyers to help them out, & expected to send my solicitor sufficient monies to make up the 10% deposit for my new home.

He hasn't asked for it
I'm happy to carry on getting interest on this, but is it right.

I know I could ask him, but at £n per minute I'd rather not.

What does it say in the contract that you have with your solicitor?

N/A
This is about house purchase procedure.

In practice, the initial deposit is used and passed up the chain. Don’t worry- if your solicitor needed you to send more money, he/she would let you know!

Have you actually exchanged on your purchase OP?

Usually when a lower percentage is agreed it remains that for the chain in my experience. 5% is pretty common anyway

I’m surprised you’re paying an hourly rate. The vast majority of conveyancing these days is fixed fee.

It's pretty standard to pass the first deposit up the chain on exchange - many people are using the equity from their current house, and don't have the actual cash.
Do note, tho, if you fail to complete, you are on the hook for the cash to make it upto 10%.

Thanks for the replies.

I'm puzzled over the figures.
I accepted 5% from my buyers, & my sellers would normally expect 10%.
The difference is >£25k, which I was expecting to pay.
Surely their solicitor would've advised against accepting such a small amount on exchange?

On every purchase I have done the ftb deposit from the bottom of the chain has simply been passed up without anyone topping up to 10%. Someone in the chain can require it, but in practice most parties agree to accept the deposit from the bottom of the chain.