To secure a property, we will require a holding deposit equivalent to one-weeks rent. When received, we will take the property off the market and begin the referencing process. Once referencing is completed and is satisfactory, this holding deposit will be allocated towards the first months’ rent.
If you to provide the necessary information in good time, and we can demonstrate that we have given sufficient notice to provide this, we will be entitled to retain the holding deposit. We will provide reasons in writing to you to explain why we have retained your holding deposit should this occur.
If you change your mind and decide to withdraw after paying a holding deposit, and you notify us of this before the ‘deadline for agreement’ has passed (usually a maximum of two weeks after the holding deposit is paid), we are entitled to retain the holding deposit. Even if you do not notify us of your decision to withdraw, we are still entitled to retain the holding deposit if you have not taken reasonable steps to enter into the tenancy before that date (i.e. providing reasonable information required to progress the tenancy) and we have taken all reasonable steps.

Interest can be charged for late payment of rent but only where the rent payment has been outstanding for 14 days or more (from the date set out in the tenancy agreement).

Any fee charged will be no more than 3% above the Bank of England’s base rate for each day that the payment has been outstanding.

How do to calculate the maximum amount of interest that can be charged on a late rent payment:

Work out the yearly interest: take the amount of rent that is owed by the tenant and multiply it by the Bank of England’s base rate + 3%.

Work out the daily interest: divide your yearly interest from step 1 by 365 (the number of days in a year).

Work out the total amount of interest: multiply the daily interest from step 2 by the number of days that the rent has been overdue.

For this example, we are assuming that the Bank of England’s (BoE) base rate is 3%:

As any interest charged must not exceed the BoE’s base rate +3%, the total interest that could be charged would be: (BoE base rate at 3%) +3% = 6%.

If a tenant owed the landlord or agent £500:

the annual interest would be £80 (500 x 0.06 = 30)

you’d divide £30 by 365 to get the daily interest: about 8p a day (30 / 365 = 0.08)

after 30 days this would be £2.40 (30 x 0.08 = 2.4)

We will usually require a maximum of 5 weeks’ rent as a deposit from you prior to moving into your new home. This deposit will be transferred to the Tenancy Deposit Scheme (TDS) authorised by the Ministry of Housing, Communities and Local Government to ensure that it is safe and secure.

Unfortunately, personal cheques, cash or credit card payments cannot be accepted. Our payment provider can supply you with a payment link via Open Banking or you pay via bank transfer to our client account.

At the end of your tenancy, and assuming the property is properly maintained apart from reasonable ‘wear and tear’, the deposit will be transferred back to you.

Should there be any discrepancies, we will refer back to the inventory carried out prior to you moving into the property and we will recover claims for damages through the tenancy deposit at the end of the tenancy, where independent arbitration will be available through the Tenancy Deposit Scheme (TDS)

The Dispute Service Resolution Services provided by the Tenancy Deposit Scheme (TDS) are designed to make disagreements over the repayment of the deposit faster and cheaper to resolve than going to court. Where both the landlord and tenant agree to using The Dispute Service Resolution Services the case will be handled by an independent, impartial and qualified adjudicator, and a decision will be made on the basis of the evidence provided.