Holding Deposit Terms

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Prior to processing your application, the holding fee will be payable. The fees for this is the equivalent of one weeks rent of the Property you are interested in, this amount will be confirmed prior to any application being accepted. This secures the Property while you go through the application procedure and complete referencing.

It is important that you know your legal rights and accordingly you should feel free to seek independent legal advice before signing this or indeed any other document which we might put before you. If the application is accepted by both parties and the referencing procedure is completed satisfactorily the holding fee will be allocated towards your first month’s rent due under the Tenancy.

Once we have your holding deposit, current legislation stipulates that the necessary paperwork should be completed within a maximum of 15 days or such longer period as might be agreed, the deadline date for the application to be completed will be specified within your terms of offer.

When the Holding Fee is Non-Refundable

The holding fee paid will be non-refundable in the following situations only;

You as a Tenant decide to pull out of the application for whatever reason
You fail the Right to Rent checks under the Immigration Act 2014
You provide false or misleading information in your application
You have been found to actively lie within your application
You do not meet the deadline to sign the Agreement

If at any time during an extended period you decide not to proceed with the tenancy, then your holding deposit will be retained by our firm. By the same token, if during that period you unreasonably delay in responding to any reasonable request made by our firm, and if it turns out that you have provided us with false or misleading information as part of your tenancy application or if you fail any of the checks which the Landlord is required to undertake under the Immigration Act 2014, then again your holding deposit will not be returned. It will be retained by this firm.

When the Holding Fee is Refundable

The holding fee paid will be refundable in the instances that none of the above bullet points are applicable. In this event the holding fee paid will be refunded to the applicant in full within seven days. You will not be asked to pay any fees or charges in connection with your application for a tenancy. However, if your application is successful under our standard assured shorthold tenancy agreement, you will be required to pay certain fees for any breach of that tenancy agreement in line with the Tenant Fees Act 2019. In consideration of us processing your tenant application, you agree to pay those fees to us on request.