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Renting: holding deposit query
Morbier
Posts: 636 Forumite
I understand that if I were to pay a holding deposit for a rented property, then it would be refundable (subject to satisfactory credit checks).
However, would it still be refundable if I changed my mind and decided not to take the property? (At any point before signing the tenancy agreement).
However, would it still be refundable if I changed my mind and decided not to take the property? (At any point before signing the tenancy agreement).
I can't imagine a life without cheese. (Nigel Slater)
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Comments
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No. That's the whole point of a holding deposit. The LL takes the property off the market for you, thus losing out on other potential, genuinely committed, applicants.For more,see
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The holding deposit will only be returned to you if the LL were to drop out of the deal. Once you pay the holding deposit you are committing to the property.in S 38 T 2 F 50
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Now the maximum for a holding deposit is 1 week's rent.0
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Thank you everyone. Having read the links provided, I now understand I can only get it refunded if the LL tries to impose unfair terms or changes his mind about renting to me.I can't imagine a life without cheese. (Nigel Slater)0
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