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Applying for a new teneacy
bonnand
Posts: 39 Forumite
Hello,
After some advice. We have been renting property for about 15 years and have decided to move. We have a found a property but the agency we are dealing with have asked for an admin fee per person of £120.00 which is standard. However, they have also asked for a holding fee of £100 plus the full deposit of £650 at the time of application. We have never had to do this always paying the deposit and first months rent on the day we sign the tenancy.
We have also noted the following in the application form and would like a comment on it if possible:
A tenancy will be offered to you subject to contract and more specifically, subject to the following conditions:
A fully completed application form has been submitted together with the appropriate fee.
Payment of £750.00 Holding Deposit to reserve the property. You will be asked to pay this at the same time as the
Administration Fee.
The landlord has accepted the offer.
A satisfactory search has been carried out by an independent credit referencing agency (details on request).
Satisfactory references have been obtained.
If your application is rejected prior to acceptance and/or seeking references, all monies are refundable. If your application is
accepted (subject to references) you will be required to pay a Holding Deposit, upon receipt of which the property will be
reserved for you.
Once you have been provisionally accepted by the landlord (subject to references and contract) the Application Fee and
Holding Deposit become non-returnable unless the landlord withdraws the property due to their own unforeseen
circumstances. If you choose to withdraw after acceptance, or undeclared adverse information is uncovered during referencing,
then you will forfeit all fees, plus the Holding Deposit which reflects the landlord’s lost rent for the period between provisional
acceptance and the date of rejection).
Before moving in to a property payment of the first months rent must be made by bank transfer
We are a little concerned about losing out on the full deposit if they come across an issue (I don't have the best credit history but we have been able to rent ok and I have never had rent arrears)
Thanks for reading and your comments in advance.
After some advice. We have been renting property for about 15 years and have decided to move. We have a found a property but the agency we are dealing with have asked for an admin fee per person of £120.00 which is standard. However, they have also asked for a holding fee of £100 plus the full deposit of £650 at the time of application. We have never had to do this always paying the deposit and first months rent on the day we sign the tenancy.
We have also noted the following in the application form and would like a comment on it if possible:
A tenancy will be offered to you subject to contract and more specifically, subject to the following conditions:
A fully completed application form has been submitted together with the appropriate fee.
Payment of £750.00 Holding Deposit to reserve the property. You will be asked to pay this at the same time as the
Administration Fee.
The landlord has accepted the offer.
A satisfactory search has been carried out by an independent credit referencing agency (details on request).
Satisfactory references have been obtained.
If your application is rejected prior to acceptance and/or seeking references, all monies are refundable. If your application is
accepted (subject to references) you will be required to pay a Holding Deposit, upon receipt of which the property will be
reserved for you.
Once you have been provisionally accepted by the landlord (subject to references and contract) the Application Fee and
Holding Deposit become non-returnable unless the landlord withdraws the property due to their own unforeseen
circumstances. If you choose to withdraw after acceptance, or undeclared adverse information is uncovered during referencing,
then you will forfeit all fees, plus the Holding Deposit which reflects the landlord’s lost rent for the period between provisional
acceptance and the date of rejection).
Before moving in to a property payment of the first months rent must be made by bank transfer
We are a little concerned about losing out on the full deposit if they come across an issue (I don't have the best credit history but we have been able to rent ok and I have never had rent arrears)
Thanks for reading and your comments in advance.
0
Comments
-
Why not wait til after June 1st when the fees will be banned?0
-
Hi Thanks for the reply, was not aware of the banning of fees. Only problem is we have found the right property!!0
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