Holding Deposits

At the point of making a formal offer on a flat or house to rent, all letting agents and most private landlords will ask you for a holding deposit - a non-refundable part payment which promises the property to you subject to the landlord's agreement to your offer, contract and satisfactory references.

The holding deposit does not guarantee you the property, rather, it is intended to show your committment to rent the property should the landlord agree to all the elements of your offer. Should the landlord not agree to the offer, the holding deposit is refunded in full.

  • Holding Deposits vary but should be about £200 (in London) or around 1 weeks rent.
  • If you fail to provide satisfactory references, change your mind or the date set for you to move into the property is delayed, you will forfeit the holding deposit.
  • If the landlord agrees to your offer and then later changes his mind or postpones the commencement of the tenancy, the holding deposit should be refunded in full.