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  • FIRST POST
    • zak2012
    • By zak2012 13th Mar 17, 7:22 PM
    • 276Posts
    • 15Thanks
    zak2012
    Help please
    • #1
    • 13th Mar 17, 7:22 PM
    Help please 13th Mar 17 at 7:22 PM
    Hi we want rent flat from Martin and Co agency..we agreed to pay non refundable credit cheak ...but just after one day now they ask for £600 " holding fee" which saying on small print below thier agreamnet its not refandable as well if we fail credit cheak... they never told us about this only after we paid 140...now asking more 600....so what should we do now? Anyone rented from martin and Co? We feel this is rip of to ask for holding fee of £600 and not refandable.
Page 1
    • The_Logans
    • By The_Logans 13th Mar 17, 7:28 PM
    • 209 Posts
    • 142 Thanks
    The_Logans
    • #2
    • 13th Mar 17, 7:28 PM
    • #2
    • 13th Mar 17, 7:28 PM
    Hi we want rent flat from Martin and Co agency..we agreed to pay non refundable credit cheak ...but just after one day now they ask for £600 " holding fee" which saying on small print below thier agreamnet its not refandable as well if we fail credit cheak... they never told us about this only after we paid 140...now asking more 600....so what should we do now? Anyone rented from martin and Co? We feel this is rip of to ask for holding fee of £600 and not refandable.
    Originally posted by zak2012
    Was the small print on something you signed when you started the application?
    • zak2012
    • By zak2012 13th Mar 17, 7:34 PM
    • 276 Posts
    • 15 Thanks
    zak2012
    • #3
    • 13th Mar 17, 7:34 PM
    • #3
    • 13th Mar 17, 7:34 PM
    Was the small print on something you signed when you started the application?
    Originally posted by The_Logans
    We just saw small print ...
    • G_M
    • By G_M 13th Mar 17, 7:37 PM
    • 38,840 Posts
    • 44,062 Thanks
    G_M
    • #4
    • 13th Mar 17, 7:37 PM
    • #4
    • 13th Mar 17, 7:37 PM
    I see that Martin & Co are signed up to the Property Ombudsman Scheme. (POS).

    The Code of Practice says that all tenant fees must be disclosed in advertising (S7c).
    • MyOnlyPost
    • By MyOnlyPost 13th Mar 17, 7:38 PM
    • 1,512 Posts
    • 1,019 Thanks
    MyOnlyPost
    • #5
    • 13th Mar 17, 7:38 PM
    • #5
    • 13th Mar 17, 7:38 PM
    Asking for a holding fee is quite usual, especially where housing is in short supply. Asking for a non refundable holding fee before completing checks is in my mind unethical. Once you have ben approved offer to pay the holding fee then, but not before.

    Technically the holding fee is to compensate the landlord if you pull out of the agreement, so if you fail credit checks it is the landlord who will pull out and not you, so they shouldn't keep the holding fee. However I wouldn't trust an EA as far as I can throw them when it comes to things like this so at the very least you want an agreement that if the landlord pulls out you get the £600 back
    It may sometimes seem like I can't spell, I can, I just can't type
    • zak2012
    • By zak2012 13th Mar 17, 7:47 PM
    • 276 Posts
    • 15 Thanks
    zak2012
    • #6
    • 13th Mar 17, 7:47 PM
    • #6
    • 13th Mar 17, 7:47 PM
    If we refuse to pay £600 holding fee can we ask them to get our £140 back? Because we not been told about this 600 earlier..so now we want to pull out
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