I am in a similar situation on a flat at cranfield mill at ipswich.

If i pull out after exchange of contact (the contract is heavily balanced in the sellers favour) i will lose my deposit and be liable to being sued for consequential loss by the developer.

What i need to weigh up is how far the developer wants to get involved in a legal action with me and a lot of other poeple in the same situation on this site - the small men who actually want to complete but cant get the funds. It is a mind game from here on in.

Many of these developers will not be able to sell the property to anyone else at anything like the same value today. Do they have the stomach to take small people to court and sue them and can they afford the battle (they are all in trouble financially themselves with lenders). many of them will just want to complete at the most they can get which is why they will me extremly thereatening initially.

I have just emailed bbc panorama with my situation to see if i can raise some public awareness of what seems to be a little publicesed situation that many thousands of people are in. I suggest that anypone else in this situation visits the panorama site and does the same. This debate needs some publicity and developers need to be made to wake up and smell the coffee.