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Holding Deposit

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  • Holding Deposit

    Hi all

    We looked at a property last weekend, met the landlord on Monday and then agreed to go ahead with the tenancy, the landlord agreed so we paid the £200 holding deposit and the money towards the references on Tuesday. Received a phone call today to say that the landlord has decided to go with another tenant.

    Our references are all great and no adverse credit. This means that a credit search will have been run for nothing, so when we do find another property will have to run another credit search so this may now affect our credit rating. This does not seem right to me.

    I am disappointed, one at the loss of a property we really liked and at the unprofessional actions of all concerned. Is there anything we can do?

    Thanks in advance for any advice


  • #2
    Re: Holding Deposit

    When I accept a holding deposit I give my prospective tenants a receipt which is also a form of contract, to say in return for the deposit I am taking the property off the market. - and clearly details rights and responsibilities of both parties. Do you have anything like that ?
    Of course the problem is when you deal with an agent and not the Landlord direct they might take the property off the market - but the Landlord may have offered to another person. You need the Landlords signature when you surrender a holding deposit to be really safe.


    • #3
      Re: Holding Deposit

      Surley if you gave him the deopist your intention were clear that you wanted the property! i dont think you can sue him tho! but i suggest you speak to CAB to find out where you stand on this! after all he/they have made an impression on your credit file and you feel disappointed!


      • #4
        Re: Holding Deposit

        Get your questions answered before handing over money.

        Hopefully lesson learned.