Holding deposit on apartment

Fire_Fox

moneysavingj wrote: »

Yes, I've just got the copy of the t&c which I signed after paying over the phone (no receipt). It states the following:

"Should the applicant withdraw the application of fail their referencing, which is at the landlord's discretion and in this event be unable to provide a guarantor suitable to the landlord, the deposit will not be returned."

When applying at the start I even offered to pay the full rent upfront, to which they replied it wouldn't make a difference to the application. Now they're saying paying upfront would remove the need for a reference, but I no longer have the funds to hand so that option is gone.

You really need a receipt, ask for one! That seems all in order to me as you have not withdrawn or failed referencing as yet. You have already said you can provide a guarantor, I would suggest you do so in writing by recorded delivery. I don't read a one month deadline, is this not in the terms and conditions?

moneysavingj wrote: »

So what I'm really asking is- should I have to pay another £1350 after providing a guarantor? I know there's probably no chance of getting the initial deposit back. They seem to be stalling so the 1 month runs out, giving them a chance to take more money from me.

No you should not have to pay more money, you have paid a substantial holding deposit which MORE than proves your commitment. A holding deposit should be refundable if the landlord pulls out even tho you have passed the checks or checks are still ongoing. It would not be refundable if YOU pull out so you need to be crystal clear (in writing by recorded delivery) that you still wish the tenancy to go ahead.

Best case scenario this all gets sorted and you move in. Worst case scenario they pull out unfairly and you threaten small claims action. In that case having a receipt for the holding deposit, copy of the terms and conditions, recorded delivery receipts and copies of correspondence clearly stating your intentions (give a guarantor etc.) will be invaluable. Under NO circumstances must you allow yourself to say that you cannot afford any more money therefore you cannot proceed.

tbs624

Fire_Fox wrote: »

,.....you have paid a substantial holding deposit which MORE than proves your commitment. A holding deposit should be refundable if the landlord pulls out even tho you have passed the checks or checks are still ongoing. It would not be refundable if YOU pull out so you need to be crystal clear (in writing by recorded delivery) that you still wish the tenancy to go ahead.

The LA cannot simply keep the holding deposit in its entirety even if the T does choose to pull out: they would have to justify their costs/losses.

Fire_Fox wrote: »

,Best case scenario this all gets sorted and you move in

Quite frankly, I wouldn't now see getting signed up with this particular LA as a "best case scenario" - I'd reserve that phrase for an equitable refund of the deposit after the LA hopefully receives a resounding bollocking from the TS officer and the signing-up for a different property via a LL who self-manages or a less unscrupulous-sounding LA.:)